Vietnam’s Coconut Exports Set To Surpass $1 Billion in 2024

Vietnam’s coconut exports are rapidly gaining prominence as a high-value commodity. According to Nguyen Thi Thanh Thuy, director of Vietnam’s Department of Science, Technology and Environment, export revenues have surged from $180 million in 2010 to over $900 million in 2023. In 2024, this figure is projected to surpass $1 billion.

In August 2024, fresh coconuts from Vietnam were officially approved for export to China through regular trade channels, following a similar agreement with the United States last year. China is emerging as a key market, with an annual demand of approximately 2.6 billion fresh coconuts. Exports of fresh Vietnamese coconuts to China are projected to reach $250 million this year, accounting for 25% of Vietnam’s total coconut export value. However, to sustain this growth, Vietnam must maintain strict compliance with phytosanitary standards as China and the European Union implement increasingly rigorous pesticide residue limits.

Vietnam’s fruit and vegetable exports had reached an estimated value of $6.2 billion by the end of October 2024, representing a 21% increase from the previous year. Durians remained the top export item, generating $2.7 billion in revenue, followed by dragon fruit with an export revenue of around $450 million. Strong demand from the Chinese market is driving up coconut exports, which are expected to overtake dragon fruit as Vietnam’s second-largest fruit export item in the near future.

To meet the rising demand, Vietnam plans to expand its coconut cultivation area to 200,000 hectares by 2030, including 175,000 hectares in the Mekong Delta and 16,000–20,000 hectares in the South Central Coast region. Currently, 30% of the nation’s coconut cultivation meets VietGAP standards, and 30% of farms have been issued traceability codes.

Ben Tre province — Vietnam’s “coconut capital” — accounts for 42% of the country’s total planted area for coconuts, with the province’s cultivation area exceeding 80,000 hectares. Meanwhile, the province’s coconut exports generate $350 million annually, reaching markets including the United States, the European Union, China, Japan, Canada and South Korea.

As one of the world’s leading coconut producers, Vietnam produces about 2 million metric tons annually. However, it faces stiff competition from Thailand, Indonesia, Cambodia and the Philippines, all of which are also permitted to export coconuts to China.

Image: Unsplash

This article was based on a Chinese article. Read the original article.