Vietnam’s coconut exports are on track to surpass $1 billion in 2024, marking a significant milestone for this high-value commodity. Export revenues have seen remarkable growth, rising from $180 million in 2010 to over $900 million in 2023, according to Nguyen Thi Thanh Thuy, Director of the Department of Science, Technology, and Environment.
In August 2024, Vietnam secured approval for fresh coconut exports to China via regular trade channels, adding to a similar agreement with the United States in 2023. China, with an estimated annual demand for 2.6 billion fresh coconuts, is becoming a key market. Fresh coconut exports to China are forecasted to generate $250 million this year, contributing 25% to Vietnam’s overall coconut export value. Compliance with stringent phytosanitary standards remains essential as importing regions such as China and the European Union enforce stricter pesticide residue limits.
By October 2024, Vietnam’s fruit and vegetable exports reached an estimated $6.2 billion, up 21% compared to the previous year. While durians remain the leading export with revenues of $2.7 billion, coconuts are expected to overtake dragon fruit, currently valued at $450 million, as the second-largest export item.
To support growing demand, Vietnam aims to expand its coconut cultivation area to 200,000 hectares by 2030, focusing on the Mekong Delta and the South Central Coast region. Currently, 30% of coconut farms adhere to VietGAP standards, and a similar percentage have implemented traceability systems.
Ben Tre province, often called Vietnam’s “coconut capital,” accounts for 42% of the national coconut cultivation area. With over 80,000 hectares of plantations, the province’s coconut exports generate $350 million annually, supplying markets such as the United States, European Union, China, Japan, Canada, and South Korea.
As one of the world’s leading coconut producers, Vietnam produces approximately 2 million metric tons annually. However, it faces stiff competition from other exporters in the region, including Thailand, Indonesia, Cambodia, and the Philippines.
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