HCM CITY — Truong Hai Group Corporation (THACO) and Fresh Del Monte, a US food group with 135 years of experience, signed a strategic partnership in HCM City on November 26.

The 10-year partnership opens a billion-dollar opportunity for Vietnamese agriculture and marks a shift towards industrial-scale farming.

In 2026, the two sides will supply 71,500 tonnes of bananas, equivalent to 3,575 containers, averaging 12 containers a day.

Fresh Del Monte’s next target is 240,000 tonnes a year, or 40 containers a day. To reach this quantity, THACO must grow about 4,000ha of bananas.

Speaking at the signing ceremony, Trần Bá Dương, chairman of THACO, said the core philosophy of modern agriculture is to produce fresh fruit with high output and consistent quality because “only what cannot be sold fresh should be processed”.

He added that it is this very strictness that earned the trust of Fresh Del Monte, a group with over a century of banana cultivation and 40,000ha of farmland worldwide, to enter into the partnership.

Under the partnership, both sides are bound by the rule “below 90 per cent incurs penalties”. If THACO delivers less than 90 per cent of the quantity or quality required, it will be fined US$1 per 13-kilogramme box. Fresh Del Monte will face the same penalty if it fails to receive the agreed volume.

Fresh Del Monte owns a distribution network in more than 80 countries. It sets global standards for fruit quality and consumption trends. It is also a strategic partner of many agricultural exporting nations.

Mohammed Abbas, executive vice president of Fresh Del Monte, said Thaco’s bananas are positioned as premium products, which are especially welcomed in the Japanese market.

Beyond bananas and pineapples, Fresh Del Monte said it may expand into oranges, lemons, grapefruit and particularly seedless lemons – a product where Việt Nam leads the world.

THACO will not only receive support but will also assist Fresh Del Monte in mechanisation and factory design. THACO plans to hand over a banana packaging plant in June 2026 and supply machinery for pineapple farming areas.

After 2028, THACO AGRI aims for 23,600ha of bananas, producing 1.5 million tonnes a year, and 4,300ha of pineapples, producing 267,000 tonnes a year. It will also expand into durians, grapefruit and mangoes. — VNS