The coconut industry in Vietnam is thriving, unveiling its potential to become a driving force in the country’s development.
In a recent statement made by Nguyen Quang Dung, Director of the Institute of Agricultural Planning and Projection (NIAPP) in Vietnam, it was announced that the coconut industry in the country has been recognised as a crucial contributor to the its socio-economic progress. Dung stressed the need to consider it an essential component of Vietnam’s sustainable development strategies.
However, Dung also identified several shortcomings within the industry including a weak connection in the value chain and limited processing capacity.
The industry’s most significant limitation, according to Dung, lies in the imbalance between the supply of materials for processing and the shortage of capital required to upgrade technology. In light of these challenges, Dung emphasised the necessity of developing a project that aims to make coconuts Vietnam’s main industrial crop by 2030.
According to NIAPP, Vietnam currently boasts over 188,000 hectares of coconut plantations, accounting for 1.67% of the world’s total. This thriving industry provides a source of income for approximately 389,530 farming households, with coconut and coconut products contributing to an export value of over US$900 million. As a result, Vietnam stands as the fourth-largest global player in terms of coconut value.
The production and processing of coconut products involve 854 specialised enterprises, while over 90 companies are engaged in coconut product exports. Together, these businesses provide employment for more than 15,000 workers.
Huynh Quang Duc, Deputy Director of the Department of Agriculture and Rural Development in Ben Tre province, which boasts the largest coconut area in Vietnam, underlined the significant role played by coconut trees in the province’s socio-economic fabric. With over 70% of the population dependent on coconut cultivation for their livelihood, more than 163,000 households engage in coconut farming.
In Ben Tre province, the production value of coconut products constitutes 20.69% of the province’s total industrial production value, contributing 42.51% to its overall export turnover and generating employment opportunities for tens of thousands of workers.
With a current coconut cultivation area of 78,000 hectares, Ben Tre province distributes its coconut products to nearly 100 countries and territories, reaching selective markets such as Europe, the United States, and the Middle East. In recent years, the province has implemented numerous resolutions and plans to create favourable conditions for the stable, sustainable, and effective development of the coconut industry.
Featured banner image credit: coconutvietnam.blogspot.com
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