HANOI: After quietly supplying coffee addicts their daily fix for decades, South-East Asia's new economic power Vietnam is preparing to take on Nestle SA and its Asian rivals to reach them faster.
Instead of selling raw robusta beans to foreign companies for turning into instant coffee, Vietnam’s biggest supplier is preparing to offer its own soluble powder in early 2020.
Robusta futures traded in London have declined 11% in 2019 after slumping in three of the previous four years amid surging production from Vietnam, the world’s top producer and exporter. The country’s coffee industry sees the expansion into domestic instant-coffee production as a more lucrative growth proposition than simply continuing to plant more trees.
Instant coffee is an ideal way to introduce the beverage to these consumers because of its ease of preparation, he said in an email."Vietnam can take advantage of its geographical position and low production costs to expand within the region.” "There are many small and medium-sized companies that are very focused and that are competing fiercely with big players and competition is strengthening the category,” he said.
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