South Korean media: For the first time, the United States has surpassed China as the largest consumer of Vietnamese coconuts!
On October 22, South Korean media "Herald Economy" published an article stating that the United States has for the first time surpassed China to become the largest consumer of Vietnamese coconuts.
According to the General Department of Customs of Vietnam, by July, the total export value of Vietnamese coconuts reached 306 million U.S. dollars, an increase of 40% compared to the previous year. Among them, the export value to the United States increased nearly twice, reaching about 82 million U.S. dollars, accounting for about 27% of the total export value of Vietnamese coconuts, making the United States the largest importer of Vietnamese coconuts.
Especially, the export value to the United States in July alone exceeded 14 million U.S. dollars, which is interpreted as a result of the increasing popularity of Vietnamese coconuts among retail chains and the beverage industry, leading to increased demand.
China has always been the largest importer of Vietnamese coconuts, but by July, its import value only slightly increased to about 67 million U.S. dollars, with its market share falling to 22%.
Under the strong demand, Vietnam's coconut exports have achieved remarkable performance in countries outside the United States and China. Exports to Australia increased by more than 77%, while exports to the UAE, Spain, and Puerto Rico increased two to eight times. Especially, exports to Cambodia increased by 690 times. On the other hand, exports to South Korea and Thailand have significantly declined.
Regarding the vigorous exports to the United States, the CEO of Vietnam's large fruit and vegetable company Vina T&T, Nguyen Dinh Song, said, "We export 80-90 containers per month to the United States via sea transport, and 60-70 tons of fruits via air transport, especially coconuts account for a large proportion."
He continued, "Coconut is one of the essential items, maintaining stable order volume and good purchasing power. The export to the United States has increased by about 25% compared to the same period last year, so it is not significantly affected by changes in monetary policy or reciprocal tariffs."
Dang Phu Nguyen, Secretary-General of the Vietnam Fruits and Vegetables Association, said, "This year, the demand for coconuts has grown rapidly, especially in the U.S., China, and the Middle East markets, but global supply is limited, which gradually enhances the price competitiveness of Vietnamese coconuts. Especially since the United States opened up to fresh coconuts from Vietnam in 2023, Vietnamese companies have been achieving product diversification, improving packaging quality, and quickly expanding the market, allowing Vietnamese products to gain a clear advantage."
Although the domestic processing demand for coconuts in Vietnam is rapidly increasing due to export demand, the growth of coconut production has stagnated because the planting area and output have not kept pace. By July, the total import value had already reached 31 million U.S. dollars, an increase of 20 times compared to the previous year. Many companies are procuring raw materials from countries such as Indonesia and Papua New Guinea to maintain capacity.
Currently, the area of coconut cultivation in Vietnam is about 200,000 hectares, with an annual output of about 2 million tons. The number of processing plants has increased from 8 in 2015 to 45 last year. However, due to the stagnation of raw material supply, the competition among enterprises for coconuts has been extremely fierce.
Original: www.toutiao.com/article/1846682751250439/
Statement: This article represents the views of the author.