Luu Van Phu, the Director of the Department of Industry and Trade in Tien Giang province, highlighted that while coconuts are sold for approximately VND 3,500-4,000 per fruit at the local gardens in Tieng Giang and Ben Tre, these same coconuts are priced at around VND 20,000 per fruit in Ho Chi Minh City.
The Department of Industry and Trade in Tien Giang province oversees over 35,000 hectares of coconut cultivation. Expanding exports to markets like the US has the potential to bolster coconut prices, thereby improving farmers’ incomes and encouraging them to invest in maintaining coconut orchards and preserving the country’s unique coconut varieties.
The Vietnam Coconut Association observed a rapid growth in the coconut industry in recent years. Major enterprises like Thanh Thanh Cong, Betrimex, and Luong Quoi have invested significantly in this sector over the last decade.
With the forthcoming access to the US and Chinese markets for Vietnamese coconuts, these enterprises are scaling up their efforts. The projected increase in export turnover from the current 700 million USD to an estimated 1 billion USD by late 2024 or early 2025 attests to the industry’s potential.
Source: en.krishakjagat.org