The Funding Partners Expects Hong Kong's Durian Economy to Shift to Malaysia

Press Release (ePRNews.com) - PETALING JAYA, Malaysia - May 14, 2018 - With a ban on the import of fresh durians into mainland China, the main beneficiaries of the insatiable appetite that the Chinese now have for the fruit are businesses in Hong Kong, the South China Morning Post reports.

HK’s census and statistics department show that durian imports to the island increased by 170 percent in 2016 to HK$3.1 billion (RM1.62 billion), compared with the year before.

This is attributed to an increasing number of mainland Chinese tourists buying up the durians in Hong Kong.

“There are no fresh Malaysian durians in mainland China and the closest you can get are in Hong Kong.

“Many mainland customers would order a dozen boxes of durians a time and ship them to Sheung Shui,” Yuen Ka-kui, founder of Durian BB told the daily.

He said he has hosted durian buffets in Kwun Tong, a district on the eastern part of Kowloon peninsula, two of which were held on Nov 18 and 19, with mainland China customers making up a third of the 200 attendees in total.

The demand for the Musang King from Malaysia has especially been driven by sales in Hong Kong, as the particular breed of the fruit can only be directly brought into China in the form of frozen pulp.

According to SCMP, the demand has even elevated the Musang King to the ranks of milk powder and toiletries as must-buy items by mainland Chinese tourists who flock to Hong Kong.

A 50-year-old Shenzhen resident Rao Minghui related his 90-minute journey to Hong Kong solely for the experience of eating the fresh fruit.

“Durians in Hong Kong are fresher and more authentic than those in Shenzhen. Durians are really smooth, tasty and very nourishing as well,” Rao was quoted as saying, as if to justify his 90-minute journey and HK$680 spent on an all-you-can-eat fresh Malaysian durian buffet.

He added that he first tasted durians 20 years ago, and now consumes at least one whole fruit every week with his wife and daughter.

And it was not just his family who came on the journey, as eight other friends tagged along too.

The business of selling durians has exploded in Hong Kong resulting in the average price of fresh Malaysian durians going up by at least 30 percent to around HK$200 per kilogramme from two years ago, and more shops selling the fruit too.

“Mainland tourists now account for 30 percent of our sales and 50 percent during festivals and promotion seasons,” SCMP quoted Nicholas Ng, who is general manager of Mali Home.

Ng owns more than 30,000 durian trees in Malaysia and has been selling the fruit in Hong Kong since a decade ago.

China’s ban on Malaysia’s fresh durian imports is expected to be lifted as soon as next year, this could spell disaster for Hong Kong’s durian economy and give a significant boost to Malaysia, the main growers of Musang King, as Chinese mainlanders may now enjoy fresh durians in the comfort of their own home.

Extracted from FMT

Source : The Funding Partners

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CATEGORIES : Business Technology
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