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Vietnam’s coconut industry eyes $1B in export turnover
The Vietnam Coconut Association (VCA) set a target of $1 billion in export revenue at its second congress for the 2023-2028 tenure recently held in Ho Chi Minh City.
According to VCA Deputy General Secretary Cao Ba Dang Khoa, coconut has been planted on a total area of some 200,000 hectares across the nation, generating incomes for nearly $390,000 farmer households.
Earlier, coconut’s values were not tapped to the fullest extent, resulting in the export turnover of just over $100,000 in 2009, he said, adding during its first tenure of 2010-2023, the VCA has recommended policies and orientations to develop the coconut industry to competent ministries and sectors, while connecting with food, handicraft, and plantation industries to improve coconut products’ competitiveness.
Last year, Vietnam shipped $940 million worth of coconut-based and coconut-related products. In the first months of 2023, export revenue experienced a sharp fall due to global headwinds; however, from the second quarter, robust signs have loomed on the horizon, with the U.S. and the E.U. allowing imports of Vietnamese coconut, and China considering official import of the fruit.
Vietnam is now home to 90 coconut businesses, 42 of which produce coconut-based goods. Besides Ben Tre, which is considered the country’s coconut capital, other localities have zoned off hundreds of hectares of land for coconut farming, including Long An, Tay Ninh, Khanh Hoa, Binh Thuan, and Binh Dinh.
Source: Vietnam’s coconut industry eyes $1B in export turnover – VnExpress International