Vietnam aims to make coconuts a key export, with an annual revenue of 1 billion USD over the next five years.
The target was set at a conference of the Vietnam Coconut Association (VCA) held in Ho Chi Minh City, on October 28.
Vietnam aims to earn 1 billion USD each year from coconut exports.
According to VCA Deputy Secretary General Cao Ba Dang Khoa, coconuts are the source of income for nearly 390,000 farming households with 200,000 hectares nationwide.
When the VCA was founded in 2009, coconuts were a fledgling sector with export revenue of just 100,000 USD per year, but the figure has now risen to 940 million USD in 2022.
The sector experienced a slump in the early months of 2023 but began to receive good news in the second quarter as coconuts were given the green light for export to the United States and some European countries.
Another great opportunity for Vietnamese coconuts is that China is considering importing fresh fruits from Vietnam through the official channel.
Besides Ben Tre, the largest coconut farming region in Vietnam, many coconut farms have been set up in other provinces such as Long An, Tay Ninh, Khanh Hoa, Binh Thuan and Binh Dinh.
The newly elected VCA Chairwoman Nguyen Thi Kim Thanh said in the coming year, the association will work together with farmers in cultivation, harvesting and processing, while supporting coconut enterprises to enhance their competitiveness.