The cost of coconuts has reached unprecedented heights in Vietnam, the Philippines, and Thailand because of reduced supplies stemming from climate change impacts and pest infestations.
Vina T&T, a major fruit exporter, is currently paying as much as VND220,000 ($8.47) per dozen coconuts directly from farmers, setting new record prices.
According to industry experts, coconut prices have increased by over two times compared to the previous year at this time, and dealers are finding it difficult to secure supplies.
“Coconut prices are increasing just as rapidly as gold prices,” stated Nguyen Dinh Tung, the CEO of Vina T&T.
The firm ships out seven containers of coconuts weekly, yet this volume satisfies merely two-thirds of what their international clients require.
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A vendor prepares coconuts for sale at a roadside stall in Hanoi on July 1, 2022. Photo by AFP |
The same pattern is observed in Sri Lanka, the Philippines, and Thailand, major exporters of the nut. Year-over-year prices have increased by 50-100% in these nations.
In Thailand, the fruit currently sells for $2.9 per kilogram, whereas in the Philippines, the price goes up to $4.28.
Extended periods of severe weather have interfered with supply chains, where El Niño has triggered droughts and La Niña has led to intense rainfall and unexpected storms in major coconut-producing areas within these nations.
Insect infestations have additionally impacted crop outputs, whereas the demand from markets such as China and the U.S. keeps driving prices up.
In the meantime, Vietnamese coconuts are making headway due to their competitive prices and consistent quality.
The Ministry of Agriculture and Environment has reported significant expansion in Vietnam’s fresh coconut exports during the initial four-month period of this year, showing considerable rises particularly towards the U.S. and China.
The globe’s fifth-largest exporter of coconuts possesses 200,000 hectares of plantations, which produce approximately two million tons each year.
In the previous year, the value of exported coconuts and their derivatives reached almost $1.1 billion, where coconuts alone contributed approximately $390 million. Vietnamese coconuts are currently distributed across more than 40 countries and regions worldwide, with the United States and China leading as the primary export destinations.
Starting from August 2023, when the United States opened its market to
Vietnamese coconuts
, exports increased more than tenfold in under a year.
During the initial two months of 2025, exports to this particular market saw an increase of 46% compared to the same period last year.
Following the signing of a formal export agreement in August 2024, China has emerged as a significant market, leading to a sharp increase in exports.
China uses approximately four billion coconuts each year, out of which 2.6 billion are fresh ones. Vietnam ranks as the third-largest supplier, providing about 20% of the aforementioned quantity.
Dang Phuc Nguyen, who serves as the general secretary of the Vietnam Fruit and Vegetable Association, noted that Vietnamese coconuts are highly valued for their distinct taste and gain popularity in both the United States and China during summertime.
He predicted that the export of fresh coconuts would reach a record $500 million this year.
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