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Vietnam - the opportunity to become number 1 in the world coffee market
Mr. Luong Van Tu - Chairman of Vietnam Coffee and Cocoa Association Vicofa (VICOFA) said: “In the crop year 2019-2020, Vietnam exported 1.6 million tons. Compared to the crop year 2018-2019, output decreased by 15%; Due to storms and floods and changing weather, coffee prices is down for 4 consecutive years”.
In recent years, Vietnam has had many changes. In addition to exporting green coffee, Vietnam also promotes the processing and export of roasted and instant coffee (accounting for about 12%) .
According to Mr. Tu, VICOFA is also promoting domestic coffee consumption as well as promoting a culture of enjoying high quality coffee. The Ministry of Agriculture and Rural Development also has support programs.
Despite a significant decline, Vietnam faces great opportunities from more than 14 signed trade agreements, including a number of major agreements with the EU, CP TPP, which will help Vietnam enjoy interest rates of only 0-6% when entering big markets as well as benefiting investors in Vietnam.
Ms. Le Hoang Diep Thao - Vice President of VICOFA, General Director of TNI King Coffee, co-owner of Trung Nguyen Group, said that Vietnam is facing a rare opportunity to break through and rise up to become the number one global power in coffee.
"If we increase the value of Vietnam's coffee industry, we will have a chance to achieve two important achievements. The first is to help 10% of the coffee bean exports to turn into finished coffee for export. The second is to increase coffee consumption in the domestic market from 1.68 kg/person (in 2019) to 3 kg/person (in 2023).
Representatives from China, Brazil, Thailand and international coffee associations also shared experiences in developing and enhancing national brands with Vietnamese businesses.
Source: HNN (mard.gov.vn)
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