Fresh coconut prices in the Mekong Delta region have plummeted to just VND 30,000 – 40,000 per dozen (12 coconuts), equivalent to VND 5,000 – 6,000 per kilogram for export-quality produce. This marks the lowest price point since Vietnam officially began exporting fresh coconuts to China in October 2024.
Mr. Truong Tan Tuan, Director of Energy Coconut Co., Ltd. (Vinh Long), attributes the price drop to oversupply during the rainy season, which boosts yields but reduces consumption. However, Mr. Cao Ba Dang Khoa, Vice Chairman and Secretary-General of the Vietnam Coconut Association, argues that the steep price decline is more than a seasonal issue—it’s a market shock. He believes the fresh coconut industry has overheated, with numerous companies exporting without quality control. “Some containers shipped to China resemble a ‘mixed hotpot,’ containing various coconut varieties, sizes, and flavors. This inconsistency leads to customer returns, forcing businesses to resell at lower prices domestically,” Mr. Khoa explains.
Fresh coconuts are now Vietnam’s flagship fruit export.
During a recent meeting with the Bangxiang Fruit Association (China), importers highlighted the inconsistent quality of Vietnamese coconuts. “Each purchase yields a different quality, making it challenging to maintain consumer trust,” Mr. Khoa quoted the Chinese partners.
Vietnam currently cultivates 16 coconut varieties for drinking, with many farms growing multiple types. Farmers often expect traders to buy their entire harvest, complicating sorting and selection for export. To ensure sustainable growth, the industry must prioritize production planning, quality enhancement, and transparency, moving beyond its current spontaneous development. Farmers must maintain cultivation logs, a practice rarely adopted.
In the U.S. market, Mr. Khoa noted that a Chicago supermarket sells fresh coconuts at USD 4.39 each (approximately VND 120,000), indicating significant growth potential. However, markets like the U.S. and EU demand stringent sustainable production, social responsibility, and fair trade standards.
The coconut industry’s challenges echo those of dragon fruit and durian during their peak periods, followed by decline. Mr. Dang Phuoc Nguyen, Secretary-General of the Vietnam Fruit and Vegetable Association, noted that dragon fruit exports once exceeded USD 1 billion annually but have since halved due to lost competitiveness.
Durian, which surged in exports earlier in 2024, faced an 80% export drop after China tightened cadmium and artificial coloring controls. “Durian is difficult to cultivate, and China’s Hainan trials have failed, giving Vietnam an edge. However, without quality improvements and process innovation, this advantage will vanish,” Mr. Nguyen warned.
This underscores the critical need for Vietnamese businesses and farmers to proactively enhance quality and competitiveness through innovation to maintain market leadership.
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