Vietnam's Coconut Exports Quintuple in Ten Years, Expected to Exceed $1 Billion by 2025

According to Vietnamese media reports, Nguyen Thi Thanh Thuy, Director of the Department of Science and Technology and Environment, stated at the "Coconut Product Sales Matching" forum that Vietnamese coconuts are gradually transforming into high-value export commodities, with export volumes experiencing significant growth. In 2010, Vietnam’s coconut exports were merely $180 million, but by 2023, this figure has successfully surged to over $900 million. It is anticipated that by 2025, exports will surpass the $1 billion mark.

In August 2024, Vietnam's fresh coconuts were officially allowed to be exported to China through regular trade channels, making China one of the main export markets for Vietnamese coconuts. In the first ten months of this year, Vietnam's fresh coconut exports exceeded $120 million. Given the strong demand for coconut products in the Chinese market, exports are expected to grow further with formal access. The annual export volume of fresh coconuts to China is projected to reach $250 million, accounting for 25% of the industry’s total exports. In August 2023, the U.S. also approved imports of fresh coconuts from Vietnam, prompting Vietnamese companies to actively expand production to increase exports to the U.S. Thailand, Spain, and others are also significant export destinations for Vietnamese coconuts.

By the end of October 2024, Vietnam’s fruit and vegetable exports are expected to reach nearly $6.2 billion, a 21% increase year-on-year. Notably, durian leads with approximately $2.7 billion in export value, followed by dragon fruit at about $450 million, with bananas, mangoes, jackfruits, and fresh coconuts trailing closely behind. Driven by strong demand in the Chinese market, Vietnamese coconuts are expected to surpass dragon fruit to become the second-largest export fruit in the future.

To further increase coconut yields, Vietnam plans to expand its national coconut cultivation area to about 200,000 hectares by 2030. The Mekong Delta region is expected to account for about 175,000 hectares, while the Central South Coastal region will cover 16,000-20,000 hectares. Currently, 30% of the coconut cultivation area in Vietnam meets VietGAP standards, with the same proportion having obtained traceability codes.

Vietnam is one of the major producers and exporters of coconuts globally, with an annual production of about 2 million tons. In the global market, Vietnam faces competition from countries like Thailand, Indonesia, and Cambodia in coconut exports. In the Chinese market, aside from Vietnam, Thailand, Indonesia, and the Philippines are also sources of coconut imports. Additionally, Cambodia exports fresh coconuts to China under official quotas. Ben Tre Province is known as Vietnam's "Coconut Capital," with a cultivation area exceeding 80,000 hectares, accounting for 88% of the coconut cultivation area in the Mekong Delta and 42% nationally. Ben Tre Province currently has 133 designated coconut growing areas, covering nearly 8,300 hectares, with annual coconut product exports reaching $350 million. Ben Tre's coconut products are now exported to markets including the U.S., Japan, the EU, China, Canada, and South Korea.