Vietnam’s coconut exports set to reach $1b

Vietnam’s coconut exports are poised to reach a new milestone of $1 billion this year, driven by the recent signing of a protocol allowing the official export of fresh coconuts to China.

According to the Vietnam News, the Vietnam Coconut Association expects the Chinese market to provide a stable and growing demand for Vietnamese coconuts, preventing price fluctuations.

Nguyen Huu Tai, a coconut farmer from Ben Tre Province, expressed optimism about the protocol, stating that it would significantly benefit coconut growers in Vietnam.

The Vietnam Fruit and Vegetable Association forecasts a substantial increase in fresh coconut exports to China, with an estimated additional $200-300 million by the end of 2024. This growth is expected to continue in the near future.

In the 2022-2023, Vietnam’s fresh coconut exports reached approximately $800 million, with China emerging as the primary importer. The recent protocol signing is likely to further solidify China’s position as a major market for Vietnamese coconuts.

Attribution: Xinhua

Subediting: M. S. Salama