Vietnamese coconuts enter multi-billion dollar market

Published 2024년 12월 30일

Tridge summary

Vietnam is emerging as a significant player in the global coconut industry, with over 200,000 hectares dedicated to coconut cultivation, particularly in Ben Tre Province. The country's coconut products, known for their high quality, started being exported in 2021, generating $180 million in revenue and is on a trajectory to surpass $1 billion in 2024. Ben Tre Province expects to reach $500 million in coconut product sales in 2024, contributing to over half of Vietnam's total coconut exports. The government is supporting the industry's growth through various policies and initiatives, such as digitalizing planting area code management and promoting the value added from coconut byproducts. The Chinese market presents a substantial opportunity, with Vietnam having an advantage in geographical location and ensuring a stable supply.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Adequate supply Quality Assurance According to statistics from the Ministry of Agriculture and Rural Development of Vietnam, the current coconut planting area in Vietnam exceeds 200,000 hectares. Coconut trees are one of the six tree species in the "Main Cash Crops Development Project 2030". In 2021, Vietnamese coconut products began to enter the international market, earning US$180 million in foreign exchange, US$900 million in 2023, and it is expected to exceed US$1 billion in 2024. Currently, Vietnam ranks sixth among the world's top 10 coconut producers, with an annual output of nearly 2 million tons, and its productivity and quality are among the best in the world. Ben Tre Province is the place with the most coconut trees in Vietnam, with a planting area of more than 80,000 hectares, accounting for 88% and 42% of the coconut planting area in the Mekong Delta and the country respectively, and is the source of income for more than 200,000 local farmers. In 2024, the sales of ...

Source: Foodmate