Vietnam’s Coconut Exports Surpass USD 1 Billion in 2024 Thanks to Market Expansion and Official Exports to China
According to customs data, by the end of last year, fresh coconut exports reached USD 390 million, up 61% year-on-year.
Including all coconut-based products, total exports hit nearly USD 1.1 billion, an increase of over 20% compared with 2023. This marks the first time in 14 years that coconuts have generated billion-dollar export revenue for Vietnam.
The Ministry of Agriculture and Rural Development reported that the country currently has 200,000 hectares of coconut plantations, producing around 2 million tons annually. One-third of this area is certified organic under U.S. and European standards, mainly located in the central region and the Mekong Delta. Ben Tre’s “Xiem” coconut has received Geographical Indication (GI) recognition, with 133 planting area codes and over 8,300 hectares dedicated to export.
With more than 600 enterprises involved in production and processing, Vietnam’s coconut industry enjoys a competitive edge in the global market. The country now ranks 4th in coconut exports in the Asia-Pacific and 5th worldwide.
China Becomes Vietnam’s Largest Coconut Export Market, but Supply Shortages Loom
China is now Vietnam’s main coconut export market, accounting for 25% of the country’s total coconut export value. The signing of a protocol on official exports in August 2024 has opened significant opportunities for the fruit. Vietnam currently ranks as the third-largest coconut supplier to China, holding more than 20% of the market share.
Beyond China, thanks to competitive prices and a naturally sweet flavor, Vietnamese coconuts are also favored in markets such as the EU, the U.S., Canada, and South Korea.
However, the coconut processing industry is facing a potential shortage of raw materials. Despite new factory investments in Ben Tre Province, supply remains insufficient. According to the Vietnam Coconut Association, prices once dropped to a record low of 1,000 VND per nut, discouraging farmers from expanding cultivation and leaving processing enterprises operating at minimal capacity.
Cao Bá Đăng Khoa, Secretary-General of the Vietnam Coconut Association, noted that many fresh coconut export orders could not be fulfilled on time due to a lack of packing codes and unstable raw material areas since Q3 and Q4 of 2024. Raw material prices have also surged as Thailand, India, and Middle Eastern countries ramped up imports, making it difficult for domestic factories to compete in procurement. Meanwhile, Chinese preliminary processing plants have expanded operations, further driving up coconut prices. While farmers benefit, processing enterprises are struggling.
He suggested that Vietnamese authorities engage with China to secure additional planting area codes for exports. He also emphasized the need for more favorable tax policies to strengthen the industry’s competitiveness.
Nguyễn Văn Phương, Director of Phuong Nam Coconut Co., voiced concerns over declining quality and quantity of raw materials. He called on enterprises to cooperate in building a sustainable value chain from cultivation to processing and consumption, ensuring long-term growth of Vietnam’s coconut industry.
(Source: Thi Hà – VnExpress International)
