Coffee sector strives for US$6 billion export turnover
Coffee sector strives for US$6 billion export turnover
The coffee industry should improve output, quality and added value for an export turnover target of US$6 billion by 2030, said Luong Van Tu, chairman of Viet Nam Coffee and Cocoa Association.
Tự told the press meeting to introduce the first Viet Nam Coffee Day held in Ha Noi on Tuesday that the coffee industry has been growing impressively over the past three decades. Viet Nam’s coffee output made up just 1 per cent of world market shares in 1991, but that figure rose to nearly 20 per cent in the 2015-16 crop year.
However, the industry has been affected by climate changes. Last year, the sector suffered the most severe drought in the past 30 years. Meanwhile, the areas of old coffee trees, which need to re-plant in the next five years, was up to 160,000 ha. The re-farming progress has been slow in the Central Highlands region.
He said the industry should make great efforts to fulfil two main targets including maintaining its place as the second biggest producer and exporter of coffee beans in the world and stepping up the processing of instant and roasted coffee. These aim to increase export value from the current $3 billion to $6 billion by 2030.
The chairman added that the coffee industry needed a big capital and comprehensive solutions to increase output and product quality.
“If the investment speed in instant and roasted coffees is faster, time to meet the $6 billion target would be shortened. Currently, many foreign groups have been investing in Viet Nam’s coffee industry due to its abundant material areas and preferential tax,” he said.
For example, Indian Tata Coffee Limited invested in an instant coffee processing plant with a total investment of $60 million in the southern province of Binh Duong.
The organiser of Viet Nam Coffee Day said the first event is scheduled to take place in Da Lat City in the Central Highlands province of Lam Dong from December 9-11.
The event, featuring many products of Viet Nam’s famous coffee localities nationwide, is described as an opportunity to promote products to domestic and international consumers, raising the value of Vietnamese goods in the international market.
An international conference on the development of the coffee sector is scheduled to be held on the sidelines of the event, with the participation of representatives from coffee-producing countries and the International Coffee Organisation (ICO).
