When 'Low Risk' is a Competitive Advantage: Opportunities for Vietnamese Cocoa

Opportunity for Vietnamese Cocoa The EU's Deforestation Regulation (EUDR) requires imported products like cocoa to prove they are not linked to deforestation. This poses challenges for Vietnamese cocoa producers in ensuring traceability and compliance with sustainability standards. On May 22, the European Commission (EC) officially published a list classifying countries by deforestation risk levels. Vietnam is in the "low risk" group, indicating an important step for the country in implementing EUDR. Accordingly, products such as coffee, rubber, and wood exported from Vietnam to the EU will only need to undergo a simpler verification process, with a compliance check rate of 1%. This is an opportunity for Vietnam to enhance product value and access premium markets. With circular economy initiatives and sustainable regulation compliance, Vietnam has a significant chance to develop its cocoa sector sustainably and increase export value. Investment in technology, training, and ...