Price of Vietnamese coconuts fall as Chinese traders stopped buying

The Vietnamese newspaper Youth Paper recently reported that coconut prices at many coconut plantations in Tinh Ben Tre have recently dropped. The current price of coconuts already dropped to 40 thousand Vietnamese Dong [1.75 USD] per 12 coconuts, which is a price decrease of 43% in comparison with the 70 thousand Vietnamese Dong [3.07 USD] of two months ago. It is also a price decrease of 77% in comparison with the peak price of 175 thousand Vietnamese Dong [7.66 USD].

A spokesperson for the Agricultural Association in Tinh Ben Tre stated that the price suddenly dropped because Chinese traders have stopped coconut purchases. The marketing channels for coconuts are blocked, just as the peak harvest season arrived. Tinh Ben Tre has approximately 72 thousand hectares of coconut plantations with an annual production volume of 600 million coconuts. The production volume of Tinh Ben Tre accounts for 40% of Vietnam's coconut production volume.

Source: Department of Commerce

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