Coconut prices soar across Asia as supply hit by climate

Major fruit exporter Vina T&T is paying up to VND220,000 (US$8.47) for a dozen coconuts at the farm gate, the highest prices ever.

Industry insiders said coconut prices have more than doubled from the same time last year, and traders are struggling to lay their hands on supply.

"Coconut prices are rising as fast as gold prices," Nguyen Dinh Tung, Vina T&T’s CEO, said.

The company exports seven containers of coconut per week, but that only meets two-thirds of its foreign buyers’ demand.

A vendor prepares coconuts for sale at a roadside stall in Hanoi on July 1, 2022. Photo by AFP

A similar trend is seen in Sri Lanka, the Philippines and Thailand, all large exporters of the nut. Prices have risen by 50-100% year-on-year in these countries.

In Thailand, the fruit now retails for $2.9 per kilogram, and in the Philippines, the rate is up to $4.28.

Prolonged extreme weather has disrupted supply chains, with El Nino causing droughts and La Nina bringing heavy rains and off-season storms in key coconut-growing regions in these countries.

Pest outbreaks have further affected yields, while demand from markets like China and the U.S. continues to push prices higher.

Meanwhile, Vietnamese coconuts are gaining ground with their competitive pricing and reliable quality.

The Ministry of Agriculture and Environment reports strong growth in Vietnam’s fresh coconut exports in the first four months of this year, with notable increases to the U.S. and China.

The world’s fifth largest coconut exporter has 200,000 hectares of orchards that yield an estimated two million tons annually.

Last year exports of coconuts and coconut products were worth nearly $1.1 billion, with the former accounting for $390 million. Vietnamese coconuts are now sold in over 40 countries and territories, with the U.S. and China being the top markets.

From August 2023, when the U.S. opened its market to Vietnamese coconuts, exports surged 11-fold in less than a year.

In the first two months of 2025 exports to the market grew by 46% year-on-year.

China has also become a major market following the August 2024 signing of a formal export protocol, which spurred a surge in shipments.

China consumes around four billion coconuts annually, including 2.6 billion fresh. Vietnam is the third largest supplier with 20% of the former number.

Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said Vietnamese coconuts are prized for their distinctive flavor and popular in the U.S. and China during summer.

He forecast fresh coconut exports to hit a record $500 million this year.