First time at auction, Vietnamese specialty coffee has increased its price by 7 times
VOV.VN – The selling price of specialty coffee has been raised by 5-7 times compared with the price of regular coffee, which confirms the value of Vietnamese specialty coffee.
Today (April 29), Dak Lak 2/9 Import-Export Company Limited (Simexco Daklak) cooperated with Buon Ma Thuot Coffee Association to organize “Auction of specialty coffee lots” that won prizes at the event Vietnam Amazing Cup 2023.
The auction took place at Simexco Daklak Company – Hoa Phu Branch (Hoa Phu Industrial Park, Buon Ma Thuot City). The lots participated in the auction of 5 units with 7 samples (of which 6 samples were Robusta and 1 sample Arabica). These are samples that have achieved scores of 80 or more in the Vietnam Amazing Cup 2023
Reserve price of the samples is offered from 110,000 – 170,000 VND/kg, successfully closing the price at 310,000 – 430,000 VND/kg. The model purchased with the highest price is the A001 sample of Minudo Farm-Care one-member limited liability company (Buon Ma Thuot city, Dak Lak province).
According to Mr. Le Duc Huy, General Director of Simexco Daklak, this is the first time to organize and also a trial auction, but has brought certain success. The selling price of specialty coffee has been raised by 5-7 times compared to the price of regular coffee, once again confirming the value of Vietnamese specialty coffee.
Through the auction, it has also introduced and directly connected domestic and foreign roasters with farmers, and specialty coffee production units, to commercialize lots participating in the Viet Nam Amazing Cup. Thereby creating added value for Vietnamese specialty coffee and motivating coffee growers to be interested in upgrading product quality.
“Until now, no one knows the highest price of coffee in the market, when there is a meeting place between buyers – sellers and products, buyers will base on their actual needs, they calculate the cost and price they can pay for the lots. The auction is really meaningful when creating a reference price in the market, from which the participating units will know the price in the market and improve the value of Vietnamese coffee”. Mr. Le Duc Huy said.
Huong Ly/VOV-Central Highlands