[November 20th] Coconut prices fall on bumper crop, declining exports

It is the coconut harvest in the Mekong Delta, but with exports falling, prices have halved from a year ago to VND1,500-2,900 (US$0.06-0.12) for a nut, causing farmers losses.

Phan Van Dinh, 68, of Giong Trom District in Ben Tre, Vietnam’s biggest coconut growing province, has an orchard of 2,000 square meters.

“At present we only manage to sell VND1 million worth of coconuts a month, enough only to cover costs, not profit,” he said.

Traders are buying at VND2,500-2,900 apiece, down from VND5,000-5,800 a year ago, he said.

Le Van Trong, owner of a 6,000-sq.m orchard in Ben Tre, does not want to sell the 2,500 fruits he has harvested because traders are offering only VND1,500, saying they are too small.

He is now drying the coconuts to sell them as seedlings for cultivation.

Source: VN Express