The conference facilitated a multi-stakeholder dialogue, drawing participation from 700 delegates representing international organizations, domestic provincial and municipal governments, and a diverse array of national enterprises specializing in coffee processing and supply. This event served as a platform for examining collaborative strategies aimed at fostering sustainable growth within the Vietnamese coffee industry.
In the 2023-2024 crop year, Vietnam exported 1,476,842 tons of coffee, generating US$5.425 billion in export revenue. Dak Lak Province was a major contributor, exporting 264,404 tons of coffee, which accounted for 17.9 percent of the national total turnover and generated $915.795 million, or 16.9 percent of total coffee export earnings. Currently, the majority of coffee exports from Dak Lak Province are in the form of green coffee.
At the conference, Standing Vice Chairman of Dak Lak Provincial People's Committee Nguyen Tuan Ha announced that Dak Lak's renowned "Buon Ma Thuot Coffee" brand and geographical indication has helped its coffee reach over 70 countries and territories worldwide.
This will help to pave the way for distinctive flavor of Vietnamese coffee, especially that from the Buon Ma Thuot region, during the continued expansion into new markets..
In the near future, alongside enhancing product quality, Dak Lak will prioritize brand development. This includes formulating strategies for promotion, marketing, and brand positioning. The region will also emphasize trade promotion and the establishment of strong, sustainable connections among enterprises, cooperatives, and coffee producers. Additionally, there will be a focus on advancing the production of high-quality and specialty coffees that possess distinctive and unique flavors, all certified in accordance with international standards.
At the conference, delegates listened to many presentations focusing on investment issues, product quality standards, brand building, product distribution, contributing to building a quality Vietnamese coffee market towards expanding export markets to countries and territories around the world.
Director Vu Ba Phu of the Trade Promotion Agency under the Ministry of Industry and Trade said that Buon Ma Thuot Coffee has become a symbol and made Vietnamese coffee famous on the world map, popular in many countries and territories. Buon Ma Thuot Coffee has always contributed positively to the overall development of the Vietnamese coffee industry.
The conference provided a platform for the coffee industry to embrace the circular economy while simultaneously integrating indigenous resources and local cultural and historical experiences into the experiential economy. Additionally, it equips the industry to proactively adapt to climate change, market fluctuations, and evolving consumer trends.
Addressing the conference, General Director of the International Coffee Organization (ICO) Vanusia Nogueira said that the ICO was established in 1963, and to date has 75 partners in consumption and production. Amongst them, Vietnam has become one of active members since 1991.
She added that despite high coffee prices, farmers remain uncertain about profitability due to the rising costs of input materials. It is crucial to evaluate the available land for coffee cultivation, as many countries are experiencing a shortage. Moreover, key technical factors must be considered including the adoption of technology and innovation, sustainable development practices, and market education on authentic coffee.
General Director Thai Anh Tuan of Dak Lak 2-9 Import-Export Company noted that consumers currently are interested in safe and environmentally friendly products. Therefore, the Vietnamese coffee industry needs to participate more deeply in the world coffee chain, export more value-added products, and at the same time organize the construction of large-scale, uniform raw material areas to meet quality requirements according to market standards and sustainable production.
The Vietnamese coffee industry is facing many opportunities and challenges amid a rapid fluctuations in global market. Sustainable development, enhancing added value through deep processing, expanding export markets, and advancing technology adoption are key factors in elevating the position of Vietnamese coffee on the global stage.
To maintain this in the global coffee market, Vietnam must foster close collaboration among the State, enterprises, industry associations, farmers, and research organizations. By developing a sustainable value chain, enhancing quality from production to consumption, and strengthening the Vietnamese coffee brand, the country can boost domestic consumption and expand its presence in the international coffee industry.
At the conference, coffee processing and exporting companies in Dak Lak Province signed 18 memorandums of understanding with partners from multinational corporations and companies.
