By Thi Ha May 5, 2024 | 03:15 pm PT
Coconuts after harvested. Photo by VnExpress/Thi Ha
Coconut prices have quadrupled in recent months to VND13,000 ($0.51) amid rising demand due to the hot weather.
Prices are rising quickly, sometimes within a day, Nguyen Dinh Tung, CEO of fruit exporter Vina T&T, said at a press briefing Friday.
Businesses have to assure farmers they would buy even when prices are low and offer other incentives to ensure regular supply, he said.
Sellers say they sell thousands of pieces a day, much higher than usual, and struggle to buy more due to low supply.
With rising temperatures to 40 degrees Celsius in many places, there is increased demand for fresh coconut juice, he added.
Since the end of March the southern region has endured a severe heatwave. Temperatures have consistently exceeded 35 degrees Celsius – a threshold for heatwaves, according to meteorological classifications.
In Ben Tre Province in the Mekong Delta, one of the largest coconut growing areas in the country, prices have been rising virtually daily, giving farmers a profit of VND3,000-5,000 per piece.
Retailer Saigon Co.op has seen demand for coconut juice rising by 50%.
The fact that Vietnamese coconuts will soon be exported to China has also pushed up prices.
