Vietnam's coconuts are about to enter China, but Thailand is worried about repeating the durian failure

Published Aug 5, 2024

Tridge summary

Vietnamese coconut industry has seen significant growth with an export value of $243 million in 2023, reaching 90 countries and regions. China emerges as a potential market due to its high consumption and low production, with Vietnam's proximity and lower costs being advantages. The 2016-2022 Agreement has the potential to generate $300 million in revenue. However, this could challenge Thailand's coconut water industry, as Vietnam starts exporting coconut water to China, especially with Thailand facing hot and dry weather reducing production and increasing coconut prices. The quality of Thai coconut water is crucial to maintaining its market position against Vietnamese competition.

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

Original content

Vietnamese coconuts are mainly grown in the central coastal provinces and the Mekong Delta, with a planting scale of nearly 200,000 hectares and an output of about 2 million tons, ranking seventh in the world. Vietnamese coconuts are exported to 90 countries and regions, with major markets including Europe, America, the Middle East, Japan and South Korea. In 2023, the export of fresh coconuts and products totaled US$243 million. Ben Tre Province is the largest coconut planting area in Vietnam, with a planting area of more than 72,000 hectares. Tran Van Duc, chairman of the board of directors of Coconut Investment Joint Stock Company, said that the Chinese market has great potential because China consumes up to 2.6 billion fresh coconuts and 1.5 billion processed coconuts each year. However, China's coconut production can only meet 10% of consumption and processing needs, and the rest must be imported from multiple countries. Vietnam's advantage is that it is closer to China and ...

Source: Foodmate