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🇻🇳 Vietnam’s Coconut Exports Surpass $1 Billion in 2024, Boosted by Market Expansion and Official Trade with China

Vietnam’s coconut exports exceeded USD 1 billion for the first time in 2024, thanks to expanded market access and official export channels to China.

According to customs data, by the end of last year, fresh coconut exports reached USD 390 million — up 61% year-over-year.
Including all coconut-based products, total export value hit nearly USD 1.1 billion, marking a 20% increase over 2023. This is the first time in 14 years that coconuts have brought in over USD 1 billion in export revenue for Vietnam.

According to the Ministry of Agriculture and Rural Development, Vietnam currently has 200,000 hectares of coconut plantations, producing 2 million tons annually. One-third of this area meets organic standards set by the U.S. and Europe, mainly located in the Central region and the Mekong Delta. The Bến Tre green Siamese coconut has received geographical indication certification, with 133 planting area codes and over 8,300 hectares dedicated to export.

With more than 600 enterprises involved in production and processing, Vietnam’s coconut industry holds a competitive edge in the global market. Vietnam ranks 4th in coconut exports in the Asia-Pacific region and 5th globally.

🇨🇳 China Becomes Key Export Market

China is now Vietnam’s largest coconut export market, accounting for 25% of total export value. A trade protocol signed between the two countries in August 2024 opened the door for official fresh coconut exports, creating a major opportunity for growth.
Vietnam is currently the third-largest coconut supplier to China, holding more than 20% of the market share there.

Beyond China, Vietnamese coconuts are also favored in markets such as the EU, U.S., Canada, and South Korea — thanks to their competitive pricing and naturally sweet taste.

⚠️ Raw Material Shortage Remains a Challenge

Despite export success, the industry faces a shortage of raw materials. Although many factories have been built in Bến Tre, supply has not kept pace with demand. According to the Vietnam Coconut Association, coconut prices once dropped to a record low of 1,000 VND per fruit, discouraging farmers from expanding plantations. This has caused many processing firms to operate below capacity.

Mr. Cao Bá Đăng Khoa, General Secretary of the Vietnam Coconut Association, stated that many fresh coconut export orders have been delayed due to a lack of packaging codes and unstable sourcing areas since Q3 and Q4 of 2024. Meanwhile, rising demand from Thailand, India, and the Middle East has pushed raw material prices higher, making it harder for domestic companies to compete. China’s expansion of semi-processing plants has also driven up prices — benefiting farmers, but straining processors.

He called on Vietnamese authorities to work with Chinese counterparts to issue more planting area codes and suggested that tax incentives be considered to improve competitiveness for the coconut sector.

Mr. Nguyễn Văn Phương, Director of Phương Nam Coconut Company, also expressed concerns about declining quality and quantity of raw coconuts. He urged businesses to collaborate in building a sustainable value chain — from cultivation and processing to distribution — to ensure the long-term growth of the industry.