Coconut prices markets double as heatwave spurs demand

Fresh coconuts are selling for VND80,000-100,000 (US$3.04-3.80) a dozen at the farm gate, or double the prices at the start of the year, as demand rises amid hot weather.

Southern Vietnam has been facing a prolonged heatwave in recent weeks, with temperatures in several provinces rising above 37 degrees Celsius (98.6 degrees Fahrenheit).

Traders say the price hike was driven by higher demand for coconut juice amid scorching heat.

Meanwhile, dry weather is reducing coconut yields, they add.

The fruit is retailing for VND15,000-20,000 each in Ho Chi Minh City, up 25-30%.

Coconut farmers in the Mekong Delta’s Vinh Long Province say the rising prices, following declines late last year, are improving their incomes.

Vinh Long has nearly 123,000 hectares under the fruit, accounting for 60% of the country’s production.

Exports of fresh coconuts were worth $65 million in the first quarter, up 26% year-on-year, with shipments to China and the EU posting double-digit increases.

But experts say prices remain volatile, making it difficult for farmers and businesses to plan for the long term.