Vietnam's coconut imports reached US$31.2 million in the first seven months of the year, an almost 19-fold increase compared with the same period last year, according to the Vietnam Fruits & Vegetables Association (Vinafruit).
Dang Phuc Nguyen, general secretary of Vinafruit, said the increase in imports was linked to rising exports of fresh coconuts, which reduced domestic availability. "Markets such as China, the U.S., and the Middle East are all ramping up purchases from Vietnam, which is squeezing supply for domestic processing," he said.
The U.S. opened its market to Vietnamese fresh coconuts in 2023, followed by China in August 2024. In the first seven months of this year, coconut exports reached US$306.2 million. Exports of processed coconuts rose by 57 per cent, while exports of fresh coconuts increased by 15 per cent.
To meet requirements, processors have been importing coconuts from Indonesia and Papua New Guinea. However, since Vietnam has not yet signed an official trade agreement with Papua New Guinea, imports from that country remain limited.
The shortage of supply has pushed farm gate prices to a record VND19,000 (US$0.75) per fruit in the first half of the year, according to the Vietnam Coconut Association. Retail prices of premium fruit have been around VND25,000 (US$1) per fruit, six times higher than four years ago.
High prices have encouraged expanded cultivation. Vietnam now has more than 200,000 hectares of coconut production, with an annual yield of around two million tons.
Source: VNExpress
