Vietnam aims to rake in 6 billion USD from coffee exports by 2030 (Photo: VietnamPlus) Hanoi (VNA) – Even though Vietnam’s coffee sector has enjoyed fast development in recent years in terms of cultivation area and output, foreign businesses still gain more advantages in the world market.
Coffee is viewed as an important sector, accounting for 3 percent of Vietnam’s gross domestic product (GDP). Coffee export turnover has hit more than 3 billion USD, or 15 percent of total farm produce exports of the country in the past years.
The sector has enjoyed swift development in recent years in both cultivation area and output; however, the Ministry of Industry and Trade (MoIT) said advantages in the world market are still held by foreign businesses with strong branding and financial potential.
Therefore, the MoIT has carried out a number of measures to realise a target of earning 6 billion USD from coffee exports by 2030 as well as improve added value for Vietnamese coffee products.
Accordingly, in addition to the negotiation and signing of free trade agreements (FTAs) to create an open market for Vietnamese coffee, the MoIT has instructed businesses to carry out stable and long term linkage programmes to boost coffee consumption by bringing the products into foreign distribution systems, thus helping Vietnamese coffee to further penetrate into overseas markets.
Regarding market forecast, the ministry also enhance studies and information collection involving demands, varieties, standards, designs, packaging, supply-demand, prices, and policies on export-import and quality management, as well as food safety, among others. Results will be sent to relevant ministries and sectors, consumers and businesses in a bid to create conditions for stakeholders to join hands in the production of quality products.
In trade promotion and brand building, the Ministry of Industry and Trade will continue to launch a series of solutions and team up with relevant ministries and sectors to bolster the popularisation of Vietnamese coffee in foreign markets.
A representative of the ministry said the measures are hoped to bring about positive changes in market structure for the country’s coffee products.
Coffee, one of Vietnam’s main currency earners, is expected to bring home 3.74 billion USD this year. Statistics of the Ministry of Industry and Trade showed that Vietnam is home to nearly 100 facilities processing coffee beans, 160 others producing roasted and grinded coffee, eight manufacturing instant coffee and 11 others making mixed coffee.
The country’s coffee products have been shipped to more than 80 countries and territories worldwide. Vietnam makes up 14.2 percent of market share of global raw coffee beans, ranking second after only Brazil. Notably, exports of roasted, grinded and instant coffee account for 9.1 percent, standing at the fifth place following Brazil, Indonesia, Malaysia and India.
Most of Vietnam's coffee beans are of the Robusta variety, known for being relatively easy to grow and resistant to disease and pests -- qualities that ensure stable crops. The beans make for a heady, somewhat bitter coffee in contrast to Brazil’s more costly Arabica beans, which tend to have a sweeter, softer flavour.
The third Vietnam Coffee Day is set to run in Pleiku City, the Central Highlands province of Gia Lai from December 8 – 10, with coffee-drinking culture in focus.
This year’s festival will highlight the promotion and development of specialty coffee and organic coffee products in a bid to make Gia Lai and the Central Highlands at large a popular destination of coffee lovers around the world.
Gia Lai is now home to about 300 hectares of organic coffee, certified by the USDA. Local farmers have also partnered with food and beverage producer Nestlé to bring safe coffee straight from farm to table./.
