VINAGRI News - The price of dried coconuts in Vinh Long province (formerly part of Ben Tre region) has plummeted to just one-third of last month’s level, leaving farmers facing mounting financial pressure amid high input costs and declining income.
Summary:
> Dried coconut prices in Vinh Long dropped to 60,000 - 80,000 VND per dozen, down 120,000 VND from last month.
> Farmers face financial strain due to high production costs and falling income.
> Domestic demand fell sharply, while imports of dried coconuts increased.
> Local authorities promote cooperative participation to stabilize prices and support farmers.
The price of dried coconuts in Vinh Long province has fallen sharply, now ranging between 60,000 - 80,000 VND per dozen (12 coconuts), down by as much as 120,000 VND per dozen from the previous month, according to the Vietnam News Agency (TTXVN).
Ms. Nguyen Thi Tham, a farmer from Giong Trom commune, said her family sold coconuts for 200,000 VND per dozen last month, but traders are now buying at only 80,000 VND per dozen. She added that coconut prices had remained high for nearly a year, peaking at 240,000 VND per dozen at one point. Despite the current rainy season when production is typically low, prices have continued to decline. “With current prices, our income has dropped sharply, making it difficult to invest in proper care for the trees to withstand floods and saline intrusion later this year,” Tham shared.
Mr. Tran Van Duc, a grower from Chau Hoa commune, expressed similar concerns. He noted that about a year ago, dried coconut prices had risen to high levels and remained stable after a prolonged slump, but that recovery was short-lived. “The cost of maintaining a coconut garden is substantial - from hiring labor to build dikes for flood prevention and water storage, to purchasing fertilizers and pesticides. If prices stay above 80,000 VND per dozen, farmers can still make a profit, but any further decline will make it very difficult for us,” Duc said.
According to local traders, the sharp drop in coconut prices is mainly due to a significant decline in domestic demand, partly caused by natural disasters such as storms and floods. Additionally, when domestic prices were high earlier, many companies opted to import dried coconuts from overseas, increasing domestic supply and pushing purchase prices down.
Vinh Long province currently has over 120,000 hectares of coconut plantations, with more than 75% already bearing fruit. In response to the price slump, local authorities are encouraging farmers to join cooperatives and establish direct partnerships with processing enterprises to stabilize purchase prices and ensure more sustainable incomes for coconut growers.
NPK/ Vinagri News
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