Hanoi (VNS/VNA) 🏅- By the end of 2024, fresh coconut exports had reached 390 million USD, a 61% increase compared to last year's figure, according to the General Department of Customs.
Overall, exports of fresh coconuts and coconut products totalled nearly 1.1 billion USD, reflecting a growth of over 20% from 2023.
This is the first time in 14 years that coconuts have generated a billion-dollar export revenue for Vietnam.
Data from the Ministry of Agriculture and Rural Development indicates that Vietnam currently has 200,000 hectares of coconut plantations, producing about two million tonnes of the fruits every year.
One-third of this area meets organic standards from the US and Europe, concentrated mainly around the central region and plantations in the Mekong Delta.
The Ben Tre Siamese coconut has been granted geographical indication, with 133 designated plantation codes and over 8,300 hectares dedicated to export production.
With more than 600 businesses involved in coconut production and processing, Vietnam’s coconut industry enjoys a competitive advantage in the international market. Vietnam ranks fourth in terms of coconut exports in the Asia-Pacific region and fifth globally.
China is the largest export market, accounting for 25% of Vietnam’s total coconut exports in terms of value. The signing of a protocol allowing official coconut exports between the two countries in August 2024 has created significant opportunities for the coconut farmers and producers.
Vietnam is currently the third-largest coconut supplier to China, holding over 20% of the market share.
Beyond China, thanks to its competitive pricing and a naturally sweet flavour, Vietnamese coconuts are also highly favoured in markets including the EU, the US, Canada and the Republic of Korea.
Despite generating billions of dollars in export revenue, the current figures still do not fully reflect the potential and advantages of Vietnam’s coconut industry, according to representatives.
General Secretary of the Vietnam Coconut Association Cao Ba Dang Khoa said that many fresh coconut export orders have faced delays due to a shortage of plantation codes, packing codes and unstable raw material sources, over the third and fourth quarters of 2024.
Therefore, the Coconut Association has asked authorities to engage with Chinese counterparts aiming to make issuing additional plantation codes for Vietnam easier./.
According to the Vietnam Coconut Association, fresh coconut exports from Vietnam have only been established and developed in the past eight years but have grown rapidly, with export turnover increasing tenfold.
Vietnam’s coconut industry has recently emerged as a key economic driver for the Mekong Delta and south-central coastal regions thanks to the signing of agreements paving the way for the product to enter billion-dollar markets such as the US, Europe, and China.
A forum on connecting coconut production and consumption took place in the Mekong Delta province of Ben Tre on December 13, offering a venue for relevant parties to discuss ways to fully tap the potential of both domestic and international markets to develop coconut into a billion-USD industry.
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