Coconut prices soar across Asia

In the Mekong Delta provinces, the purchase price of fresh coconuts in the garden has reached 180,000-210,000 VND per dozen (12 fruits). After adding transportation and grading costs, the retail price can be up to 25,000 VND per fruit for grade 1 coconuts. Grade 2 goods cost 140,000-170,000 VND per dozen.

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

"Coconut prices are rising as fast as gold prices. Buying today is more expensive tomorrow, but there's still not enough supply," he said. Every week, his company exports about 7 containers. Each container weighs 18 tons and contains 20,000 coconuts. The company is selling only two-thirds of the orders.

Coconut factory workers go to buy goods in Ben Tre. Photo: Vina T&T

Not only Vietnam, but also major coconut growing countries such as Sri Lanka, the Philippines and Thailand are facing a decline in production due to extreme weather and widespread pests and diseases. Coconut prices in these countries are increasing by 50-100% compared to the same period last year.

In Thailand, in areas such as Bangkok and Chiang Mai, the price of fresh coconuts ranged from US$1.45 to US$2.90 per kilogram (approximately THB49.74 to THB99.48 per kilogram) at the end of April. At the same time, fresh coconut prices in the Philippines are also high due to reduced supply and strong global demand. Wholesale prices range from US$0.40 to US$0.70 per kilogram, while retail prices in major cities such as Manila and Quezon range from US$2.68 to US$4.28 per kilogram (approximately P149-238 per kilogram). Currently, each coconut weighs 1-2 kilograms (depending on the type).

Coconut prices have surged across the board due to prolonged extreme weather, causing raw material shortages and supply chain strains. El Nino causing drought, while La Nina brought unseasonal heavy rains and typhoons to key coconut growing regions such as the Philippines, Thailand and Sri Lanka. Widespread pest and disease outbreaks reduced yields in raw material supplying countries, while demand from major markets such as China and the United States increased, further pushing up coconut prices.

In the context of global supply difficulties, Vietnamese coconuts are asserting their advantages thanks to competitive prices and stable quality. According to the Ministry of Agriculture and Environment, Vietnam's fresh coconut exports in the first four months of this year grew well, with exports to the US and China also breaking through. Vietnam is the world's fifth largest coconut exporter with a growing area of ​​about 200,000 hectares, with an estimated output of 2 million tons per year. One-third of the area has met organic standards as required by the US and EU.

In 2024, the export turnover of coconut and coconut products will reach nearly 1.1 billion USD, of which fresh coconut alone will contribute 390 million USD. 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 11-fold in less than a year. In the first two months of 2025 alone, exports to the US increased 46% compared to the same period last year.

Not only the US, China has also quickly become a key market for Vietnamese coconuts. After the two countries signed a protocol on official exports in August 2024, the volume of goods to China has accelerated. This country consumes about 4 billion coconuts each year, 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 - General Secretary of the Vietnam Fruit and Vegetable Association, Vietnamese coconut has a unique flavor, is easy to preserve and convenient to transport, and is very popular in the US and China, especially in the summer. In addition, the product can also be processed into various products such as dried coconut, canned coconut water, coconut milk or cosmetic ingredients. With these advantages, he predicts that the export turnover of fresh coconut this year could reach 500 million USD, becoming a new bright spot for Vietnam's agricultural industry.

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