Vietnam penang Zhi coconut price rebound, seeking to develop the Chinese market

Penang Zhi province known as Vietnam coconut, planting area of more than 74000 hectares, accounting for half of Vietnam national coconut area, annual production of about 690 million. Every year, penang Zhi coconut products exports reached more than $350 million, about 30% of the province's total exports. Affected by the epidemic in the past few years, local coconut prices plummeted, the lowest price is only 1000 Vietnamese dong/piece, equivalent to less than 0.3 yuan.

After two consecutive years of continued to fall, sweet Zhi coconut price in recently. The price of a dozen coconuts rises to 40,000 to 50,000 dong, or 11.8 to 14.7 yuan, equivalent to about 1 yuan per coconut. Although the price is still low compared to previous years, it is the highest price in the past two years.

Penang Zhi province many farmers make a living by planting coconut, usual local coconut price about 70000-80000 dong/dozen, up to 120000 dong/dozen. Export markets, especially to China, have stalled over the past two years, forcing many farmers to cut down their coconut trees. There are also a large number of coconut groves that have been neglected for a long time, and now their production and quality have declined dramatically.

Penang Zhi province deputy director-general of the agriculture and rural development hall Huynh Quang Duc said that resulted in coconut export difficulties, a large backlog. Now the market has reopened and coconut prices are recovering. Penang Zhi provinces are continue to work with China and the United States are two major consumer market to negotiate, in order to improve the price of local coconut.