HANOI: Vietnam’s coconut export are expected to reach US$1 billion in 2025 after the US and China agree to allow Vietnamese coconuts to enter the two markets, according to President of the Vietnam Coconut Association Nguyen Thi Kim Thanh.
As the US is about to open the market for Vietnamese coconuts and China allows official coconut import, local businesses are trying to develop raw material areas, apply for growing areas codes, and register to build organic material zones to meet the needs of the world market, Vietnam news agency (VNA) reported the official said.
“At the end of 2022, coconut export turnover was over US$700 million. But based on the momentum of the US and China agreeing to import Vietnamese coconuts, around the end of 2024 and early 2025, coconut export turnover will be up to US$1 billion,” Thanh said.
In the past, there were not any plans for coconut areas. However, in 2021, the fruit was listed as one of Vietnam’s key industrial crops, especially in the context of climate change.
According to Thanh, about 20 large enterprises in the country have exported coconuts to the world. Up to 35 countries and territories are Vietnam’s importers.
Luu Van Phi, Director of the Department of Industry and Trade of the southern province of Tien Giang said export of coconut to the US will help raise the price of the fruit, improving the income of farmers, thus helping them feel secure to invest in coconut farming.
He noted that a coconut is priced at VN$3,000-4,000 (US$0.12 to US$0.17) at farms but consumers in Ho Chi Minh City have to pay VN$20,000. – BERNAMA -VNA
