Ministry scraps export tax on coconuts

The Ministry of Finance (MoF) has decided to remove export tax on coconut starting this month.

MoF made this decision after receiving a petition from the People's Committee of southern Ben Tre Province, known as the country's "kingdom of coconut", to stop imposing a 3-per-cent export tax on coconut because of slumping prices.

Currently, each coconut is sold at VND2,000 (US$0.09), a price five times lower than that of previous years.

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