Vietnam: Coconut sold out in China, businesses have to close factories

Published 2024년 12월 13일

Tridge summary

Vietnam's coconut industry is expected to generate over $1 billion in export revenue in 2023, but faces challenges such as raw material shortage and quality control issues. The industry's expansion is threatened by the loss of raw materials to China for deep processing, and there are concerns about the resale and lease of growing area codes, which is distorting product information and leading to violations of plant quarantine and food safety. Experts recommend a digital system for managing growing area codes and stricter enforcement of fraudulent activities, along with a focus on maintaining brand quality and complying with importer conditions to prevent import barriers.

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

Original content

As Vietnam's 'billion-dollar' strength, many businesses have had to stop operating or operate at a standstill. Because a large amount of raw coconut materials after preliminary processing are sold to China for deep processing. In the middle of the coconut capital, businesses are 'hungry' for processing materials. At the forum "Connecting production and consumption of coconut products", on the morning of December 13, Ms. Nguyen Thi Thanh Thuy - Director of the Department of Science, Technology and Environment (Ministry of Agriculture and Rural Development) said that coconut is one of the 6 key industrial crops according to the Project on developing key industrial crops to 2030 (including coffee, rubber, tea, cashew, pepper, coconut). Currently, Vietnamese coconut has become an export item with high value. Processed products from coconut have great potential to increase the value of coconut trees, increasing income for people. According to statistics, in 2023, the export value of ...

Source: 24h newspaper