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Sat, 09/02/2023 - 04:45
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Vietnam’s coconut export to reach 1 billion USD in 2025: insider

Hanoi, September 2 (VNA) – Vietnam’s coconut export are expected to reach 1 billion USD in 2025 after the US and China agree to allow Vietnamese coconuts to enter the two markets, according to President of the Vietnam Coconut Association Nguyen Thi Kim Thanh. As the US is about to open the market for Vietnamese coconuts and China allows official coconut import, local businesses are trying to develop raw material areas, apply for growing areas codes, and register to build organic material zones to meet the needs of the world market, the official said. “At the end of 2022, coconut export turnover was over 700 million USD. But based on the momentum of the US and China agreeing to import Vietnamese coconuts, around the end of 2024 and early 2025, coconut export turnover will be up to 1 billion USD," Thanh said. In the past, there were not any plans for coconut areas. However, in 2021, the fruit was listed as one of Vietnam’s key industrial crops, especially in the context of climate change. According to Thanh, about 20 large enterprises in the country have exported coconuts to the world. Up to 35 countries and territories are Vietnam’s importers. Luu Van Phi, Director of the Department of Industry and Trade of the southern province of Tien Giang, said the province is home to over 35,000 ha of coconut, mainly in the districts of Go Cong Tay, Cho Gao, My Tho, and Tan Phu Dong. The export of coconut to the US will help raise the price of the fruit, improving the income of farmers, thus helping them feel secure to invest in coconut farming, Phi said. He noted that a coconut is priced at 3,000-4,000 VND (0.12-0.17 USD) at farms but consumers in Ho Chi Minh City have to pay 20,000 VND. Two issues to solve now are how to reduce costs of brokerage and increase incomes for farmers, he said. Huynh Quang Duc, Deputy Director of the Department of Agriculture and Rural Development of the southern province of Ben Tre province, said that its coconut coverage is over 15,000 ha. Currently, about 10 businesses in and out of the province are registering to get planting area codes, and packaging facility codes for exporting coconut juice. "The expansion of export through official channels to China and the US creates a great motivation for coconut businesses to apply to get the codes that make them eligible for export,” Duc said./.