The Asian coconut market is in strong demand and prices are getting better, but so far, Cambodia’s fresh coconut exports have been relatively quiet.
According to the Ministry of Commerce’s list of export commodities in 2024, there are some fruits such as mangosteen, bananas, etc. on the export list, but coconuts are not on the list. And in the first quarter of the year, according to the list of exported goods recorded by the General Department of Customs and Excise of Cambodia, it does not seem to be clear yet.
Such as mangoes, bananas, etc. Cambodia can open its export market to China, especially for coconuts. The agreement to open the Cambodian coconut market was signed by Cambodia in April 2024, when Foreign Minister Wang Yi visited Cambodia. At present, it is known that Cambodia has 13 coconut plantations and 5 processing factories that have been granted the right to export coconuts directly to China. Meanwhile, it is known that Cambodia has a total area of coconut plantations of nearly 20,000 hectares.
Regarding the coconut market, Mr. Tou Bora A coconut trader told Koh Santhephat that whether or not the export market for coconuts is established, there is still a very broad market for this crop in the country. He claimed, “There is no need to export, just carry a single fruit, no matter how small or large, and you can easily sell it for 3,000 to 5,000 riels.” He added, “In a hot month like today, the demand for coconuts is very high, and there are so many that they are gone.”
Regarding the situation of the coconut market abroad, VN Express reported that the coconut crop in Vietnam is currently in high demand and the price of coconuts has risen to record levels due to a shortage of supply caused by climate change and pests in Vietnam itself, the Philippines and Thailand, etc. The price of coconuts collected from the plantations has reached $8.47 per lot, the highest price ever, and the price has more than doubled compared to the same time last year.
Nguyen Dinh Tung, CEO of Vina T&T, a Vietnamese fruit exporter, said that coconut prices are rising as fast as gold prices, and that the company has so far exported seven containers of coconuts a week.
The same trend has been seen in major coconut exporters Sri Lanka, the Philippines and Thailand, where prices have now increased by 50 to 100 percent, the report said. Due to the interaction of the El Nino weather phenomenon, which causes severe drought, and La Nina, which causes heavy rainfall, combined with unseasonal storms in the region, the coconut yield is affected.
In 2024, with a coconut plantation of about 200,000 hectares, Vietnam was able to export about 2 million tons of coconuts to more than 40 countries, with the largest markets being the United States and China, worth nearly $1.1 billion.
