Cocoa prices hit record high, farmers excited to expand acreage

While busy harvesting ripe cocoa pods, Mr. Vo Dinh Mot in Lien Hiep hamlet, Xa Bang commune, Chau Duc district (Ba Ria - Vung Tau) could not hide his joy. In more than 20 years of growing cocoa, he has never seen prices as high as this year.

“Last year, cocoa prices were only around 70,000 - 80,000 VND/kg of dry beans, this year they have increased to 220,000 - 230,000 VND/kg, nearly 3 times higher. This whole crop, I harvested about 2.5 tons of beans, minus expenses, I still made a profit of more than 350 million VND, I have never been so excited,” Mr. Mot shared.

Prices of fresh cocoa and dried beans in Ba Ria - Vung Tau are at an all-time high. Photo: Le Binh .

Many cocoa growers in Chau Duc district are also having a bumper crop with record high prices. Mr. Nguyen Van Duc, Deputy Director of Chau Duc Cocoa Cooperative, said that many households earn millions of dong every day thanks to cocoa fruit.

Mr. Nguyen Huu Nong, owner of a cocoa garden of more than 1 hectare in Song Xoai 2 hamlet, Lang Lon commune (Chau Duc district) said that this crop his family harvested about 2 tons of dry cocoa beans, earning a profit of 250 million VND, many times higher than before.

“Compared to other fruit trees, cocoa trees are less susceptible to pests and diseases, so the cost of pesticides is not much. The special thing about this tree is that it can be intercropped with many other trees and still produce high yields. This year, cocoa prices have increased sharply, so we farmers have the motivation to invest more intensively,” Mr. Nong said excitedly.

According to Ms. Nguyen Thi Chim Lang, CEO of Vung Tau High-Tech Agriculture Company Limited (Baria Chocolate), due to limited supply in the world while demand is increasing, cocoa prices have continuously increased sharply since mid-2024. Baria Chocolate is also preparing the final procedures to export cocoa products to foreign countries such as Australia, Singapore, etc. with its partners.

“In addition to linking product consumption with farmers, we also have 10 hectares of cocoa in Chau Duc district. With such high prices, we also want to expand the cocoa growing area with international organic standards,” said Ms. Chim Lang.

Ms. Nguyen Thi Chim Lang (left) said that the company is expanding the area of ​​cocoa cultivation with international organic standards for export. Photo: Le Binh .

In the past 3 years, many localities in Ba Ria - Vung Tau have strongly developed the area of ​​cocoa planting in pepper gardens and fruit trees, bringing high economic efficiency. The province's cocoa products are currently purchased by many businesses to process into cocoa powder, chocolate candy, cocoa wine and export to Japan, Korea, Malaysia and Europe. According to experts, this intercropping is quite suitable, it is not advisable to completely switch to pure cocoa planting.

Dr. Nguyen Viet Khoa (Vietnam Cocoa Coordination Board) assessed that thanks to suitable soil conditions, cocoa in Ba Ria - Vung Tau has a special flavor, ranked among the best in the world. However, Dr. Khoa said that, along with expanding the cocoa growing area, Ba Ria - Vung Tau should focus on quality from the beginning with an export orientation.

“For sustainable development, Ba Ria - Vung Tau should focus on deep processing and pay more attention to high-quality varieties, promoting domestic and foreign trade. Many cocoa experts in the ASEAN bloc assess the quality of the province's cocoa as being no less than other countries. The province should promote this strength in the coming time,” Dr. Khoa recommended.

Currently, Ba Ria - Vung Tau has more than 650 hectares of cocoa, mainly concentrated in Chau Duc district. Recently, the People's Committee of Chau Duc district supported 2.7 billion VND for 80 cocoa farming households to invest in seedlings, fertilizers, agricultural materials to implement the cocoa cultivation process according to VietGAP standards, and build OCOP products to increase the value of agricultural products.

The Chau Duc District Farmers’ Association has also given 20,000 cocoa seedlings to cooperative members and cocoa farmers in the district. Chau Duc District is also building 15 hectares of organic cocoa to meet export demand.