Vietnam needs to develop coffee value chain: Minister
Vietnam needs to develop a coffee value chain to help the industry develop along an integrated, multi-valued and humane direction, so that coffee growers can receive the most benefits in the value chain, said Minister of Agriculture and Rural Development Le Minh Hoan.
Vietnam tops the world in term of coffee export volume, it only stands at the 10th place in term of value. (Photo: VNA)
Hanoi (VNA) – Vietnam needs to develop acoffee value cha🐟in to help the industry devꦜelop along an integrated, multi-valued and humanedirection, so that coffee growers can receive the most benefits in the valuechain, said Minister of Agriculture and Rural Development Le Minh Hoan.
Although Vietnam is the world’s second biggest coffeeexporter, around 90% of its coffee exports are in the raw form, resulting in low export revenue as well as brand recognition.
Even when the country t✨o🧔ps the world in term of coffee export volume, it only stands at the 10th place in term of value.
To increase the value of coffee exports, building acoffee production chain is one of directions to develop the industry sustainably. The close connectivity from farmers to processingcompanies will create a coffee production line that ensures high product quality,environmental protection and sustainable development.
Export revenue of coffee is expected to hit a newrecord this year, exceeding the four billion USD achieved last year, theVietnam Coffee Cocoa Association (VICOFA) said.
However🌳, both farmers and exporters said they do not benefit from rising prices of coffee due to rising inflation that𒉰 has pushed production cost up.
In the first five months of this year, Vietnam'scoffee exports were estimated at 882,000 tonnes, worth more than two billionUSD. The country’s average export price of coffee is at2,295 USD per tonne, up 2.4% over the same period last year. From now until the end of theyear, coffee exports will still have good prospects when demand increases while supply is not expected to improve. It is forecast that coffee output this year willdecrease by 10%-15%/year due to unfavourable weather./.
Over the past month, the price of coffee bean has continuously increased, reaching the mark of 60,000 VND (2.55 USD) a kilogramme, the highest in the past 15 years, in the Central Highlands provinces which are considered the country's "coffee capital".
A Vietnam booth has been arranged at the International Coffee & Tea Industry Expo (ICT Asia) that is underway in Singapore from May 25-27, aiming to give a chance for Vietnamese businesses to introduce their products and trademarks, and seek partnerships with their Singaporean and international peers.
Thanks to a trend of hiking in coffee prices, experts have predicted that this year’s export revenue of this product may exceed last year’s record of 4 billion USD.
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Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Vietnam tops the world in term of coffee export volume, it only stands at the 10th place in term of value. (Photo: VNA) 
