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Coffee sector aims to promote domestic consumption

20:26 | 16/11/2020

Local businesses have been advised to enhance intensive processing whilst investing in high-quality products in an effort to develop prestigious brands for the purpose of boosting the domestic coffee sector’s consumption rate from 13% to approximately 30% in the near future, according to insiders.

Nguyen Nam Hai, vice chairman of the Vietnam Cocoa and Coffee Association (Vicofa), pointed out that the nation’s average coffee consumption has increased from 0.5 kilos to 2 kilos per person annually over the past 10 years.

Despite this growth, the domestic consumption rate locally remains low in comparison with other countries such as the United States, Brazil, and Finland, said Hai. Indeed, due to this the local coffee sector is aiming to boost coffee consumption ratio to between 25% and 30%, equivalent to that of the world’s major coffee producers such as Brazil and Indonesia.

Luong Van Tu, chairman of Vicofa, said the domestic coffee industry is aiming to raise productivity whilst improving product quality, therefore adding value moving forward, as opposed to expanding cultivation areas to meet the tastes of domestic consumers.

At present, several Vietnamese coffee businesses such as Intimex Group Joint Stock Company, Tin Nghia Corporation, Phuc Sinh Group, and Trung Nguyen Group have invested in the building of modern coffee processing factories whilst striving to develop their own brands at supermarkets and through agents.

Phan Minh Thong, chairman of the Board of Directors of Phuc Sinh Group, said with a coherent plan, the local firm’s domestic revenue in recent months has witnessed an increase of 200% compared to the period before the outbreak of the novel coronavirus (COVID-19) pandemic.

Currently, the enterprise is striving to continue increasing the domestic consumption rate through launching new products that are suitable for the tastes of Vietnamese people whilst looking to develop online sales channels.

Source: VOV