New protocol can boost coconut exports by 200-300 million USD in 2024

On August 19, the Ministry of Agriculture and Rural Development of Vietnam and the General Administration of Customs of China (GACC) signed a protocol on the quarantine of exported fresh coconut products. The signing ceremony was attended by leaders To Lam and Xi Jinping.

Fresh coconut is poised to become a "billion-dollar" industry with significant export potential. Vietnam, one of the world’s largest coconut producers and exporters, currently has around 175,000 hectares dedicated to coconut cultivation, primarily in the Mekong Delta.

With the new protocol and the opening of the Chinese market, fresh coconut export revenue is projected to increase by 200-300 million USD in 2024, with further growth expected in subsequent years.

The Plant Protection Department (PPD), which provided technical advice for the protocol, noted that exporting fresh coconuts not only offers economic benefits but also encourages the Vietnamese coconut industry to pursue sustainable development and enhance product quality to meet international standards.

According to the Vietnam Coconut Association, there are approximately 100 coconut-related businesses nationwide, including more than 40 engaged in deep processing. These businesses also utilize raw materials and by-products from coconuts for the food, medical, and cosmetic industries.

Ben Tre is recognized as the coconut capital of Vietnam. Additionally, provinces such as Tay Ninh, Hau Giang, Long An, Khanh Hoa, Binh Thuan, and Binh Dinh have invested in technology and organic cultivation for export. By the end of 2023, there are expected to be around 15 specialized coconut farms covering over 100 hectares.

Coconuts are one of the few crops where every part of the tree is utilized. In 2022 and 2023, the export turnover of coconut and related products consistently reached around 1 billion USD.

In August 2023, the United States also opened its market to fresh coconuts from Vietnam.

In addition to fresh coconuts, Vietnam exports over 10 other fruits and vegetables, including dragon fruit, longan, lychee, rambutan, mango, watermelon, jackfruit, banana, mangosteen, durian, and sweet potato. Passion fruit and chili are also temporarily exported.

Looking ahead, the Ministry of Agriculture and Rural Development will continue to collaborate with Chinese authorities to ensure a smooth implementation of the new protocol and support Vietnamese businesses and farmers in capitalizing on the opportunities it presents.