On August 17, in Hanoi, Simexco Dak Lak Company and the Buon Ma Thuot Coffee Association held the 2nd Best Vietnam Specialty Coffee Auction of 2024. These special coffee lots were carefully selected from the Vietnam Amazing Cup 2024 competition.
Each coffee up for auction will convey a unique message, emanating from the finest cups of coffee.
Fifteen lots of specialty coffee, including nine lots of Robusta and six lots of Arabica, were presented for auction.
Every coffee in the auction carries a distinct message, originating from the farm, and aims to enhance the value of Vietnamese coffee while delivering the best cups of coffee to consumers.
The products had starting bid prices ranging from VND 180,000/kg to VND 360,000/kg. The highest winning bid was VND 1.2 million/kg for Arabica and VND 720,000/kg for Robusta.
Specifically, the Robusta Natural coffee from the Vietnam Organic Agriculture Food Company (Di Linh district, Lam Dong province) had a starting bid of VND 250,000 and fetched the highest bid of VND 720,000/kg.
Notably, for the Arabica variety, the Arabica Natural Pun Coffee grown in Huong Hoa (Quang Tri province) had a starting bid of VND 350,000/kg and reached a remarkable bid of VND 1.2 million/kg (for a 30 kg lot). This coffee is cultivated at an average altitude of 580 meters.
It is known for its diverse flavors, including spicy notes (mint, ginger, coriander, cinnamon), citrus, nutty (apricot, plum), tropical fruits (jackfruit, guava, banana, mango, passion fruit, pineapple), berry (blackberry, raspberry), chocolate, floral, and wine.
The auction attracted thousands of participants, including roasters, baristas, and consumers, both domestic and international.
For the first time, today’s specialty coffee auction was livestreamed on Tiktok, reaching 1.7 million viewers. The livestream had 20,000 concurrent viewers, and one successful bid was placed through this online channel.
According to Mr. Le Duc Huy, General Director of Simexco Dak Lak, the specialty coffee auction provides an opportunity for roasters and buyers to acquire the finest specialty coffee lots in Vietnam.
“These lots are not only the result of the tireless labor of farmers but also the fruit of creativity and passion in elevating the flavor of Vietnamese coffee,” emphasized Mr. Huy.
This is the second time that Dak Lak has organized an auction for specialty coffee lots. The first auction, held last year (2023), achieved considerable success.
As a result, the prices of specialty coffee increased five to seven times compared to regular coffee, underscoring the immense value of Vietnamese specialty coffee.
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