Different varieties of durian fruits on display at a durian stall in Petaling Jaya, Selangor, Malaysia,.
Global demand for polarizing fruit soared 400% year-on-year, according to HSBC which said it's largely bolstered by a "craze" for the fruit in China.
"Bucking global trends, durian demand is surging by 400% year-on-year led solely by a craze in China," a report released by the bank on Monday said.
Over the past two years, China imported $6 billion worth of durians — accounting for 91% of global demand, HSBC's ASEAN Economist Aris Dacanay said in the report.
While the boom in China's durian demand started as early as 2017, the uptick in demand only picked up from late 2022, according to data from HSBC.
Persons:
it's, Aris Dacanay
Organizations:
Global, HSBC, ASEAN
Locations:
Petaling Jaya, Selangor, Malaysia, China