Agriculture & Food

According to the Secretary-General of the Vietnam Coconut Association (VCA), the international trade export of coconuts, coconut products and coconut-related products in Vietnam will exceed 900 million US dollars in 2022 (excluding coconut wood products and handicrafts made from coconut trees).

At present, the Vietnamese coconut industry has launched nearly 90 kinds of coconut products and nearly 200 kinds of coconut based foods to the market.

Nguyen Chu-lian, head of the raw materials department of Pentre Import and Export Co., Ltd., believes that Vietnam's coconut products have great export potential in international trade. Coconut shell, coconut skin, coconut meat, coconut juice and other products can be made to meet the needs of consumers, especially many coconut enterprises are investing in the introduction of advanced processing technology.

Pei Huangyan, the representative of the Trade Promotion Bureau of the Ministry of Industry and Trade of Vietnam, pointed out that the international coconut community predicted that the annual growth rate of the demand for coconut products would reach 10% by 2025, by which the Vietnamese coconut industry would usher in a broad space for international trade and export.

Goldenko revealed that in 2023, Vietnam's coconut industry will maintain its processing and export capacity, and the export value of international trade will increase to 94-95 billion dollars. With the current growth trend, the international trade export of Vietnamese coconut products will also break the US $1 billion mark in the next two years.

However, since the middle of 2022, the price of raw coconut in Vietnam has dropped sharply, and the current price is lower than 10% of the lowest level in 2018. Goberdenko pointed out that the main reason was that the recent outbreak of COVID-19 caused the order interruption of many enterprises. Therefore, the key task of Vietnam Coconut Association in 2023 is to increase the price of raw coconut, thus improving the value of coconut and the economic benefits of coconut growers. At present, the area of coconut planting in Vietnam is 188000 hectares, and the annual yield of coconut is 1.9 million tons.