Domestic coconut price triples after US export news

At the beginning of the year, the price of fresh coconut was only VND15,000-20,000 for 10, it has now tripled to between VND60,000 to VND65,000.

Ben Tre’s Department of Agriculture and Rural Development said that the reason why coconut prices rose was thanks to the increase in world coconut prices.

Although the coconut area of the province is the largest in the country, it is very small compared to the world, so the price of coconut depends greatly on the world market.

The domestic coconut market has many positive signals after the news that the U.S. officially opened to Vietnamese husked coconut.

After more than two years of decline, the sharp increase in the price of coconut made coconut farmers very excited, because coconut trees are the main source of income for many households. Besides, some businesses have also started planning to export this item.

Vietnam ranks seventh in coconut production worldwide with an area of over 188,000 ha, mainly concentrated in the Mekong Delta.

The country’s coconut area accounts for 1.67% of the world’s area, 2.07% of Asia’s coconut area.

Coconut export turnover is estimated at US$900 million last year, making Vietnam the fourth largest exporter of coconut products in the Asia-Pacific region.

Currently, there are about 854 enterprises manufacturing and processing coconut products with many different types and sizes of activities such as processing coconut shells, copra, coconut juice to solve jobs for more than 15,000 employees.

Currently, there are more than 90 enterprises exporting coconut products, of which, 42 have exported deeply-processed products.

The coconut industry strives to export coconut and coconut products to reach over $1 billion.

Source: VNEXPRESS, 2023