Signed trade agreements are fostering an environment conducive for the coconut to emerge as a key industrial crop in Vietnam. This scenario, however, presents a challenge that necessitates a strategy for sustainable development, aiming to align coconut products with the escalating standards of export markets.
The dialogue regarding the maximization of coconut's market potential, both domestically and internationally, took place at a forum in Ben Tre, a province in the Mekong Delta. The event, which occurred on December 13, was a collaborative effort between the Vietnam Agriculture Newspaper, MARD's Department of Quality, Processing, and Market Development, among other relevant entities. It acted as a pivotal nexus in the coconut value chain, promoting stakeholder engagement to explore cooperative ventures.
Highlighting coconut's status as a primary crop under a project targeting the advancement of six key industrial crops by 2030, Nguyen Thi Thanh Thuy from MARD underscored the exponential growth of the coconut industry. From an export turnover of US$180 million in 2010, the industry's value surged to over $900 million in 2023, with projections indicating a leap beyond $1 billion in 2024. The enhancement in the value of processed coconut products is anticipated to elevate farmer incomes significantly.
Current statistics reveal that 30% of coconut plantations comply with VietGAP standards, with a similar percentage receiving planting area codes. The goal is to expand coconut cultivation to over 200,000 ha by 2030, primarily in the Mekong Delta and the south-central coastal region.
In Ben Tre, dubbed Vietnam's "coconut capital," the crop is a major income source for over 200,000 rural households, with the province boasting 133 certified cultivation areas and 14 enterprises authorized to package coconuts for the Chinese market. The province's export earnings from coconut exceed $350 million annually.
The province has also made strides in developing an organic coconut material area, establishing a value chain with enterprises employing modern processing technologies. These efforts facilitate the export of organic coconut products to key markets, including the US, EU, Japan, China, Canada, and the RoK.
With coconut exports expected to surpass $1 billion, the industry is encouraged by the US and Europe's acceptance of Vietnamese coconuts and ongoing negotiations with China for official export channels. This development is poised to augment market access and foster the sustainable growth of the coconut industry in Vietnam.
Localities are urged to capitalize on government and MARD policies to bolster farmer production activities, while businesses are advised to devise strategies to enhance product value in international markets, thereby benefiting the farming community.
Source: Saigon News