Vietnam: Coconut Market 2024

Coconut Market Size in Vietnam

The Vietnamese coconut market declined modestly to $X in 2022, waning by X% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Coconut consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Coconut Production in Vietnam

In value terms, coconut production shrank slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Coconut production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The average yield of coconuts in Vietnam shrank modestly to X tons per ha in 2022, falling by X% on the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha, and then fell slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of coconuts were harvested in Vietnam; therefore, remained relatively stable against the year before. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the harvested area increased by X% against the previous year. The coconut harvested area peaked at X ha in 2021, and then reduced slightly in the following year.

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Coconut Exports

Exports from Vietnam

For the third consecutive year, Vietnam recorded growth in shipments abroad of coconuts, which increased by X% to X tons in 2022. In general, exports saw a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, coconut exports contracted to $X in 2022. Overall, exports enjoyed prominent growth. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for coconut exports from Vietnam, with a X% share of total exports. Moreover, coconut exports to China exceeded the volume sent to the second major destination, Thailand (X tons), sixfold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and South Korea (X% per year).

In value terms, China ($X) remains the key foreign market for coconuts exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and South Korea (X% per year).

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Coconut Imports

Imports into Vietnam

In 2022, overseas purchases of coconuts decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, coconut imports dropped remarkably to $X in 2022. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) was the main coconut supplier to Vietnam, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at X%.

In value terms, Indonesia ($X) constituted the largest supplier of coconuts to Vietnam.

From 2012 to 2022, the average annual growth rate of value from Indonesia amounted to X%.

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, increasing by X% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coconut import price increased by X% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Indonesia.

From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to X% per year.

Source: IndexBox Platform

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