The event was organised by the Vietnam Coffee and Cocoa Association (VICOFA) and the Ministry of Agriculture and Rural Development (MARD).
Addressing the event, MARD Minister Nguyen Xuan Cuong underlined the development of the coffee sector.
Vietnam made up less than one percent of the world’s coffee output 30 years ago. In 2016, Vietnam became the world’s second biggest coffee producer, with 645,000 hectares producing 1.6 million tonnes of beans.
The sector earned US$3.4 billion in export value and provided jobs for some 600,000 people in the year.
Coffee plants have made significant contribution to the nation’s development and the wellbeing of Vietnamese farmers, Cuong said.
By 2030, Vietnam aims to reduce coffee growing area in places with unfavourable conditions while focusing on processing and stakeholder connections to raise added value, said Cuong.
He also noted the potential for Vietnam’s coffee sector, elaborating that the world’s coffee market is valued at US$500 billion while Vietnam’s exports are worth only US$3.4 billion.
With a population of nearly 100 million people, 65% of them young and with a fast urbanisation rate, the domestic market also offers huge potential for the sector, he added.
At the event, participants suggested old coffee trees be replaced with high-yield ones to raise productivity while investing more in coffee processing.
The event forms part of activities during the Vietnam Coffee Day, the first of its kind, taking place in Da Lat city from December 9-11.