Truong Hai Group Corporation THACO and Fresh Del Monte, a United States based food group with 135 years of experience, signed a strategic partnership agreement in Ho Chi Minh City on November 26, marking a significant step toward industrial scale agriculture in Vietnam. The 10 year cooperation is expected to open billion dollar opportunities for Vietnamese fruit exports while embedding global quality and distribution standards into domestic farming.
Under the initial phase of the partnership, the two sides plan to supply 71,500 tonnes of bananas in 2026, equivalent to 3,575 containers, or an average of 12 containers per day. Fresh Del Monte has set a longer term target of 240,000 tonnes annually, roughly 40 containers per day. To meet this scale, THACO will need to develop around 4,000 hectares of banana cultivation.
Speaking at the signing ceremony, Tran Ba Duong, Chairman of THACO, said modern agriculture must prioritise high output and consistent quality, emphasising that only produce unsuitable for the fresh market should be processed. He noted that this production philosophy aligns closely with Fresh Del Monte’s strict global standards and was key to earning the group’s trust.
The agreement includes a performance based mechanism under which both parties face financial penalties if delivery or offtake volumes fall below 90 percent of agreed levels. Fresh Del Monte brings to the partnership a distribution network spanning more than 80 countries and extensive experience in shaping global fruit consumption trends. According to Mohammed Abbas, Executive Vice President of Fresh Del Monte, THACO’s bananas are positioned as premium products, with particularly strong acceptance in Japan.
Beyond bananas and pineapples, the partnership may expand into oranges, lemons, grapefruit and seedless lemons, an area where Vietnam holds global competitiveness. THACO will also support Fresh Del Monte in mechanisation and factory design, including the handover of a banana packaging facility in 2026. Looking ahead, THACO AGRI plans to scale banana plantations to 23,600 hectares after 2028, targeting annual output of 1.5 million tonnes, alongside expanded pineapple and diversified fruit production.
Source: Vietnam News
