As Chinese Tastes Change, Farmers Everywhere Rip Up and Replant
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,682,971 (+0.24%)       Melbourne $1,026,232 (+0.18%)       Brisbane $1,127,607 (-0.35%)       Adelaide $1,032,810 (+0.29%)       Perth $1,081,273 (-0.17%)       Hobart $845,389 (+0.45%)       Darwin $830,209 (+1.52%)       Canberra $1,009,978 (-0.59%)       National Capitals $1,136,677 (+0.10%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $808,800 (0%)       Melbourne $553,737 (-0.56%)       Brisbane $736,361 (-1.42%)       Adelaide $576,199 (-0.51%)       Perth $634,955 (+1.03%)       Hobart $586,666 (+1.35%)       Darwin $496,674 (-0.23%)       Canberra $476,191 (-1.45%)       National Capitals $627,529 (-0.22%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 15,214 (+14)       Melbourne 16,401 (-30)       Brisbane 11,924 (+42)       Adelaide 3,958 (+110)       Perth 9,319 (+18)       Hobart 769 (+9)       Darwin 189 (+1)       Canberra 1,277 (+12)       National Capitals 59,051 (+176)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,567 (+11)       Melbourne 6,587 (+14)       Brisbane 2,507 (+33)       Adelaide 637 (+11)       Perth 1,685 (-16)       Hobart 152 (-6)       Darwin 214 (-7)       Canberra 1,249 (+8)       National Capitals 22,598 (+48)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $860 (-$15)       Melbourne $600 ($0)       Brisbane $710 ($0)       Adelaide $650 ($0)       Perth $750 ($0)       Hobart $620 ($0)       Darwin $825 (+$5)       Canberra $700 (-$20)       National Capitals $725 (-$4)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $600 (-$10)       Brisbane $670 (+$8)       Adelaide $550 (+$10)       Perth $700 ($0)       Hobart $523 ($0)       Darwin $650 (-$50)       Canberra $580 ($0)       National Capitals $645 (-$6)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,330 (-51)       Melbourne 7,834 (+32)       Brisbane 3,707 (+45)       Adelaide 1,199 (-23)       Perth 2,145 (-43)       Hobart 228 (+1)       Darwin 72 (-1)       Canberra 404 (+3)       National Capitals 21,919 (-37)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 10,152 (-66)       Melbourne 6,206 (-16)       Brisbane 2,155 (+61)       Adelaide 434 (-11)       Perth 679 (-6)       Hobart 80 (0)       Darwin 143 (-1)       Canberra 793 (-1)       National Capitals 20,642 (-40)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.66% (↓)       Melbourne 3.04% (↓)     Brisbane 3.27% (↑)        Adelaide 3.27% (↓)     Perth 3.61% (↑)        Hobart 3.81% (↓)       Darwin 5.17% (↓)       Canberra 3.60% (↓)       National Capitals 3.32% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.14% (↓)       Melbourne 5.63% (↓)     Brisbane 4.73% (↑)      Adelaide 4.96% (↑)        Perth 5.73% (↓)       Hobart 4.63% (↓)       Darwin 6.81% (↓)     Canberra 6.33% (↑)        National Capitals 5.35% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 1.5% (↑)      Brisbane 1.2% (↑)      Adelaide 1.2% (↑)      Perth 1.0% (↑)        Hobart 0.5% (↓)       Darwin 0.7% (↓)     Canberra 1.6% (↑)      National Capitals $1.1% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 2.4% (↑)      Brisbane 1.5% (↑)      Adelaide 0.8% (↑)      Perth 0.9% (↑)      Hobart 1.2% (↑)        Darwin 1.4% (↓)     Canberra 2.7% (↑)      National Capitals $1.5% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 32.3 (↓)       Melbourne 30.8 (↓)     Brisbane 39.1 (↑)        Adelaide 31.3 (↓)     Perth 43.7 (↑)        Hobart 28.5 (↓)     Darwin 30.4 (↑)        Canberra 31.0 (↓)     National Capitals 33.4 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 30.5 (↓)       Melbourne 28.7 (↓)       Brisbane 34.4 (↓)       Adelaide 33.0 (↓)     Perth 42.3 (↑)        Hobart 28.9 (↓)     Darwin 38.7 (↑)        Canberra 34.1 (↓)       National Capitals 33.8 (↓)           
Share Button

As Chinese Tastes Change, Farmers Everywhere Rip Up and Replant

The windfall is transforming entire regions, but some are starting to worry: What if China stops buying?

By JON EMONT
Wed, Nov 22, 2023 8:30amGrey Clock 4 min

EA YONG, Vietnam—In the verdant highlands of central Vietnam, warehouses the size of airplane hangars dominate small farming towns, bristling with mounds of tropical fruit. The bounty is destined for a colossal market: China.

Farmers are felling coffee trees traditionally grown in this cool hilly region to plant spiky durians, pungent fruits that have become wildly popular in China. They are reaping the windfall to buy new irrigation systems, pay off loans and build shiny marble facades to their homes.

“We locals aren’t just doing well, we can even be considered rich,” said Pham Van Trung, 54, as he ate a late lunch of pork and rice wine. Trung made $81,000 this year selling durian, and said the region was swarming with Chinese buyers.

China’s appetite for foreign produce has grown in recent decades along with the wealth of its consumers. The amount of food the world’s second most populous nation imports has risen to over $200 billion a year—more than any other country—from about $15 billion two decades ago, according to the World Trade Organization. Avocado farmers in Kenya, shrimp cultivators in India, soy producers in Russia and banana growers in Cambodia are all cashing in.

While economic growth in China has slowed recently and its population is shrinking, demand for nutrient-rich foods such as beef and tropical fruit has remained high.

Last year, the Chinese noshed through more than 800,000 metric tons of imported durian and nearly six million metric tons of imported meat—both world-leading totals. It bought 90 million metric tons of soybeans from overseas last year, accounting for roughly 60% of global trade, for use in making tofu and to feed the country’s hundreds of millions of pigs.

Feeding China’s massive middle class presents a historic opportunity for countries seeking to boost the incomes of people in poor, rural areas. But it also poses a quandary: how to tap in to its huge market without becoming dependent on a trade partner that can be fickle.

In recent years, China has restricted imports of Norwegian salmon, Taiwanese pineapples, Philippines bananas and Australian lobsters. It usually cites contamination, pests or issues with quality—but Beijing’s curbs have also often coincided with political disputes.

China slapped hefty antidumping duties on Australian wine exports in 2020 after Australia called for an independent probe into the origins of Covid-19. In 2012, China halted purchases from banana growers in the Philippines, saying mealybugs had been discovered in shipments, after a flare-up between the countries in the South China Sea.

“With the size of the Chinese economy, it can always use trade to punish an exporter,” said Yun Sun, director of the China program at the Stimson Center, a think tank in Washington, D.C. Selling to China is “an opportunity, and it is a risk,” she said.

The risk is higher because when the chance to export to China’s massive market opens up, often entire agricultural belts go all in. This can lead to what Sun calls “singularification,” or the concentration of a local economy around one product, making it vulnerable to disruption.

Vietnamese farmers are felling coffee trees to plant durians for export to China. PHOTO: JON EMONT/THE WALL STREET JOURNAL

That is what appears to be happening in Vietnam’s central highlands. The region is famed for its Robusta coffee, which is sold around the world. But last year, Beijing opened the gates to large-scale imports of Vietnamese durian—and farmers here began uprooting their coffee crops. Traders flocked to snap up the produce, causing local prices to more than double this year.

Be Duc Huynh, a 26-year-old farmer who got rid of his entire coffee crop, said he makes about five times as much from a hectare of durian as he earned from coffee. He harvested four tons of durian this year, up from one ton last year—all of it destined for China.

China buys around 90% of durian exports from Vietnam, which also sells much of its dragon fruit, bananas, mangoes and jackfruit to its giant neighbour. In recent months around 60% of Vietnam’s fruit and vegetable exports have gone to China, up from one-third a decade ago, according to official figures compiled by data provider CEIC.

During the autumn harvest time, the village air carried the sharp smell of the fruit. Families stacked mounds of durian in front of their homes to entice traders, who thwacked the durian shells with knife handles to test for quality. Hard means it is too young; soft means it is ripe and can sell for a higher price.

On a recent afternoon, durian trader Nguyen Thai Huyen dug into the flesh with her painted-pink fingernails, tasting bits of durian to determine their ripeness. Huyen posts snappy videos on TikTok of her visits to plantations and the mountains of durian she has on offer.

“A few years ago people considered durian a crop to reduce poverty,” she said. “Now it is the million-dollar crop.”

She has tried selling to Japan, but said buyers there only take small amounts. She isn’t especially worried about being too reliant on China, though. She says durian’s popularity has room to grow in the country, where many are still unfamiliar with the fruit.

Vietnam’s government is less certain. Earlier this year the agriculture ministry issued a warning about what state media called reckless durian cultivation, saying many farmers were abandoning traditional crops such as coffee and rice and planting durian in areas unsuited to it. Agriculture experts cited in state media have encouraged farmers to develop alternative markets to China and try to sell more of their produce locally.

Traders say that is easier said than done. The fruit has few takers outside of the region, and recent high prices put durian out of reach of many local Vietnamese.

Still, farmers say they want to be careful. In September, some fruit exports including durian were halted after Beijing complained about mealybugs and other pests. It reminded farmers of a major disruption in January 2022 when truckloads of Vietnamese produce rotted after China sealed off its southern border to contain the spread of Covid-19.

H’Meng, a farmer who goes by one name, has planted hundreds of durian trees in recent years. Now, she said, she is planning to grow more coffee. The prices are more stable, she said, because the market for coffee isn’t focused on one nation.

“I’m worried about becoming too dependent on China,” she said.



MOST POPULAR

BNW Developments has established a Sydney presence, joining Arada and Sobha Realty among the growing number of UAE developers pursuing Australian buyers and development opportunities.

Australian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market. The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index. …

Related Stories
Money
ASX falls 0.7 per cent as miners and property stocks retreat
By Ruba Jaajaa 25/09/2026
Money
ASX Wrap: Technology lifts the ASX as falling oil relieves inflation pressure
By Ruba Jaajaa 23/09/2026
Prestige
Rolex revives a collector legend with the Perpetual Padellone
By Ruba Jaajaa 23/09/2026
ASX falls 0.7 per cent as miners and property stocks retreat
By Ruba Jaajaa
Fri, Sep 25, 2026 2 min

Australian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market.

The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index.

Energy was the notable exception, gaining more than one per cent as Brent crude traded above US$103 a barrel. Oil had moved higher amid uncertainty surrounding potential US diesel-export restrictions and broader geopolitical supply risks. The move supported energy producers but renewed concern about inflation inputs across transport and the wider economy.

Gold shares were weak even as spot bullion remained historically elevated. The All Ordinaries Gold index fell about 2.25 per cent, showing that equity performance can diverge from the commodity because of valuation, currency, operating and company-specific factors.

Zip was a prominent loser, falling 11.38 per cent after the company reported short sales after the previous close. Nine Entertainment also weakened after UBS analysts warned of near-term revenue challenges associated with its advertising-supported subscription tier.

Premier Investments led larger winners despite caution about the retail environment. Breville, in which Premier owns a significant stake, also appeared among leading movers. In the broader ASX 300 screen, Myer gained 11.43 per cent and MAAS Group rose 7.93 per cent, while Lotus Resources fell 10.53 per cent. These percentage moves should be checked against company announcements and trading liquidity before attributing causes.

The Australian dollar was broadly flat at US70.38 cents. Spot gold was around US$4,280 an ounce, Brent crude approximately US$103.08 a barrel and iron ore near US$96.90 a tonne late in the session.

The rate outlook remains the central domestic catalyst. Labour-market weakness has not eliminated the possibility of an RBA increase next week, leaving banks, listed property and other rate-sensitive sectors exposed to changing expectations.

Market dashboard

S&P/ASX 200: 8,702, down 0.72 per cent.

All Ordinaries: 8,897, down 0.66 per cent.

Best sector: Energy, up more than one per cent.

Weakest areas: Real estate and materials were the major drags; confirm final sector percentages before publication.

Material winner: Premier Investments led the large-company gainers. Confirm its final closing move from the ASX before publication.

Material loser: Zip, down 11.38 per cent.

ASX 300 percentage leader: Myer, up 11.43 per cent.

ASX 300 percentage laggard: Zip, down 11.38 per cent.

AUD/USD: Approximately US$0.7038, broadly flat.

MOST POPULAR

A divide has opened in the tech job market between those with artificial-intelligence skills and everyone else.

Following the successful launch of its Palais Collection, MAISON de SABRÉ has unveiled a new modular handbag system offering more than 720 styling combinations.

Related Stories
Property
Waterfront Homes Surge Ahead as Australia’s Ultimate Luxury Asset
By Jeni O'Dowd 21/11/2025
Lifestyle
Inside The Craft-Led Luxury Dog Brand Changing Pet Style
By Jeni O'Dowd 18/03/2026
Property
BLOCKBUSTER CRED MAKES THIS HOME A STAR
By Kirsten Craze 08/08/2025
0
Your Cart
Your cart is emptyReturn to Shop