Vietnam’s coconut industry eyes billion-dollar markets

Published 2024년 12월 30일

Tridge summary

Vietnam's coconut industry is becoming a major economic driver, with plans to expand into billion-dollar markets like the US, Europe, and China. The country ranks sixth globally in coconut production, with over 200,000 hectares dedicated to cultivation, particularly in Ben Tre province. Export revenue has grown from 180 million USD in 2010 to 900 million USD in 2023, and is expected to surpass one billion USD in 2024. The industry creates employment for over 200,000 rural households and has potential for value addition through by-products. However, the sector faces challenges such as the need for improved infrastructure, strict management of production and exports, and the need for investment in quality varieties and processing.

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Original content

Vietnam’s coconut industry has recently emerged as a key economic driver for the Mekong Delta and south-central coastal regions thanks to the signing of agreements paving the way for the product to enter billion-dollar markets such as the US, Europe, and China. Strong resources, growing potential According to the Ministry of Agriculture and Rural Development, Vietnam currently boasts over 200,000 hectares of coconut cultivation. Coconut is now one of the six key crops included in the national programme for industrial crop development by 2030. From generating 180 million USD in export revenue in 2010, coconut exports reached 900 million USD in 2023, and the sector is expected to surpass the billion-dollar mark in 2024. With this trajectory, the ministry aims to enhance the scale and quality of the coconut industry for further global expansion. On the global map of coconut production and exports, Vietnam ranks sixth among the top ten coconut-producing countries, with an annual ...

Source: WTOCenter