Coconut prices are soaring across Asia.

Coconut prices have hit record highs in Vietnam, the Philippines, and Thailand due to climate change and pest infestations causing a severe decline in supply.

In the Mekong Delta provinces, the purchase price of fresh coconuts at the farm has reached 180,000-210,000 VND per dozen (12 coconuts). After adding transportation and sorting costs, the retail price can reach 25,000 VND per coconut for grade 1. Grade 2 coconuts are priced at 140,000-170,000 VND per dozen.

Mr. Nguyen Dinh Tung, CEO of Vina T&T, said that the company is currently having to purchase the fruit at a price of 200,000-220,000 VND per dozen (12 fruits).

"The price of coconuts is rising as fast as the price of gold; you buy today and it's already more expensive tomorrow, but there's still not enough supply," he said, using a metaphor. Each week, his company exports about 7 containers. Each container weighs 18 tons and contains 20,000 coconuts. The quantity the company is currently selling only meets two-thirds of the order.

Coconut processing workers go to Ben Tre to collect goods. Photo: Vina T&T

Not only Vietnam, but also major coconut-producing countries such as Sri Lanka, the Philippines, and Thailand are facing declining yields due to extreme weather and widespread pest outbreaks. Coconut prices in these countries are up 50-100% compared to the same period last year.

In Thailand, in areas like Bangkok and Chiang Mai, at the end of April, the price of fresh coconuts ranged from US$1.45 to US$2.9 per kilogram (approximately THB 49.74 to 99.48 per kilogram). At the same time, fresh coconut prices in the Philippines were also high due to reduced supply and strong global demand. Wholesale prices ranged from US$0.40 to US$0.70 per kilogram, while retail prices in major cities like Manila and Quezon ranged from US$2.68 to US$4.28 per kilogram (approximately 149-238 pesos per kilogram). Currently, each coconut weighs between 1-2 kg (depending on the variety).

Coconut prices have surged across the board due to prolonged extreme weather, causing raw material shortages and supply chain strain. El Nino causing drought, while La Nina Unseasonal heavy rains and storms hit key coconut-growing regions such as the Philippines, Thailand, and Sri Lanka. Widespread pest outbreaks reduced yields in these raw material-supplying countries, while high demand from major markets like China and the US further drove up coconut prices.

Amidst global supply constraints, Vietnamese coconuts are asserting their advantage thanks to competitive pricing and consistent quality. According to the Ministry of Agriculture and Environment , Vietnam's fresh coconut exports in the first four months of this year showed strong growth, with both exports to the US and China experiencing significant surges. Vietnam is the world's fifth-largest coconut exporter, with approximately 200,000 hectares of planted area and an estimated annual production of 2 million tons. One-third of the planted area has met organic standards as required by the US and EU.

In 2024, the export value of coconuts and coconut products reached nearly $1.1 billion, of which fresh coconuts alone contributed $390 million. Vietnamese coconut products are present in more than 40 countries and territories, with the US and China being the two largest markets.

Since August 2023, when the US officially opened its doors to Vietnamese coconuts, exports have increased elevenfold in less than a year. In the first two months of 2025 alone, export value to the US increased by 46% compared to the same period the previous year.

Not only the US, but China has also rapidly become a key market for Vietnamese coconuts. After the two countries signed a protocol on official export in August 2024, the volume of coconuts exported to China has surged. China consumes approximately 4 billion coconuts annually, of which 2.6 billion are fresh coconuts. Currently, Vietnam accounts for 20% of China's total coconut imports and is the third largest supplier.

According to Mr. Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, Vietnamese coconuts have a distinctive flavor, are easy to preserve and convenient to transport, and are very popular in the US and China, especially in the summer. In addition, the product can be processed into various products such as dried coconut, canned coconut water, coconut milk, or as a cosmetic ingredient. With these advantages, he predicts that the export value of fresh coconuts this year could reach $500 million, becoming a new bright spot for Vietnam's agricultural sector.

Source: https://baoquangninh.vn/gia-dua-leo-thang-khap-chau-a-3356490.html