Coconut Trees Bring in Over Half a Billion Dollars Annually for Ben Tre Province

On August 16, the People’s Committee of Ben Tre province, in collaboration with Can Tho University and the Ministry of Science and Technology, organized a workshop on “Ben Tre’s Green and Sustainable Development towards Net Zero.”

Coconut brings in over half a billion USD

Mr. Tran Ngoc Tam, Chairman of the Provincial People’s Committee, shared that Ben Tre currently has the largest coconut area in the country, covering over 79,000 hectares, earning the title “Land of Coconut.” Coconut contributes over $500 million annually to the local economy, making it one of the province’s key industrial crops. Ben Tre now boasts over 200 coconut-based products, serving both domestic demands and exports to 90 countries and territories.

A representative from the Plant Protection Department (Ministry of Agriculture and Rural Development) stated that the global demand for coconut products is on the rise. Vietnam’s coconut-derived exports, such as coconut candy, coconut oil, coconut fiber, and activated carbon, have been increasing annually in both volume and value.

In 2023, the total export turnover of coconut products or coconut-related items from Vietnam exceeded $1 billion, and there is still significant potential for enhancing export volume and turnover in the coming years.

Exploring carbon credit opportunities from coconut trees

Chairman Tran Ngoc Tam cited studies indicating that the province’s 79,000 hectares of coconut trees have the potential to store between 1.9 and 5.8 million tons of CO2. This presents a significant opportunity to engage in the carbon credit market and move towards a green, circular, and climate-resilient economy.

“The agricultural sector in Ben Tre has been and is focusing on the development of eco-friendly, circular, low-carbon agriculture that is resilient to climate change,” said Mr. Tam.

A study by Can Tho University on estimating the CO2 absorption capacity of coconut trees in Giong Trom district, Ben Tre province, revealed that each hectare of coconut trees can sequester 25 to 75 tons of CO2.

Additionally, a comparison based on remote sensing and GIS applications showed that the amount of CO2 stored in the province’s vegetation increased from 158 million tons in 2018 to 169 million tons in 2023.

Professor Tran Trung Tinh, Rector of Can Tho University, emphasized the new value of coconut trees in their potential to store carbon, positively contributing to the goal of reducing greenhouse gas emissions and moving towards low-carbon production.

According to Mr. Tinh, harnessing the carbon storage potential of coconut trees not only contributes to Vietnam’s emission reduction strategy but also opens up new economic opportunities through the development of carbon credit markets. This not only increases farmers’ income but also motivates businesses to invest in green and eco-friendly production technologies.

“Products made from coconut fiber, coconut shells, and coconut wood can replace those made from environmentally unfriendly and non-biodegradable materials like plastic and rubber. This also contributes to reducing carbon emissions and environmental pollution,” said Mr. Tinh.

Given the advantages of coconut trees, the provincial leaders of Ben Tre proposed that the Ministry of Science and Technology support the province in participating in science and technology programs related to the sustainable development of coconut trees. They also requested assistance in accessing the carbon credit market from coconut trees and exploring the potential for developing a low-emission coconut industry.