Simexco Dak Lak Company and the Buon Ma Thuot Coffee Association recently organized the 2nd Vietnam’s Best Specialty Coffee Auction in 2024 in Hanoi. This event featured 9 lots of carefully selected Robusta coffee and 6 lots of Arabica coffee from the Vietnam Amazing Cup 2024 competition.
According to the organizers, each coffee up for auction conveyed a unique message, from the farm to enhancing the value of Vietnamese coffee and bringing the best cups of coffee to consumers.
PEAK PRICE REACHED 1.2 MILLION DONG/KG
The auction attracted thousands of participants, including roasters, baristas, and consumers, both domestic and international. For the first time, the specialty coffee auction was livestreamed on Tiktok, reaching 1.7 million people. The livestream session saw 20,000 viewers, and one successful bid was made through this online channel.
The Robusta Natural coffee from the Vietnam Organic Food and Agriculture Company in Di Linh, Lam Dong Province, started with an opening bid of 250,000 VND and peaked at 720,000 VND/kg, the highest price among the Robusta coffee lots.
“The auction lots had starting prices ranging from 180,000 VND/kg to 360,000 VND/kg. The highest winning bid was 1.2 million VND/kg for Arabica and 720,000 VND/kg for Robusta”
According to the Organizer of the 2024 Vietnam’s Best Specialty Coffee Auction
Notably, the Arabica coffee lot from Pun Coffee Company, grown in Pun Hill, Huong Phung, Huong Hoa, Quang Tri Province, started at 350,000 VND/kg and reached an impressive 1.2 million VND/kg (for a 30kg lot) – the highest price among the Arabica coffee lots. This coffee is grown at an average altitude of 580 meters and boasts a diverse range of flavors, including mint, ginger, nutmeg, cinnamon, citrus, nuts, tropical fruits, berries, chocolate, floral, and wine.
Speaking at the event, Mr. Le Duc Huy, CEO of Simexco Dak Lak Company, shared that the auction aimed to honor and promote the highest-quality coffee products from Vietnam’s diverse coffee-growing regions. Additionally, it directly connected roasters with specialty coffee producers, motivating coffee growers to strive for better quality.
“These lots are not just the result of the hard work of farmers but also the passion and creativity in elevating the flavor profiles of Vietnamese coffee,” emphasized Mr. Huy.
Mr. Trinh Duc Minh, Chairman of the Buon Ma Thuot Coffee Association, shared that specialty coffee production in Vietnam has only developed in the last decade. To produce specialty coffee, it is essential to support the farmers who grow this unique product. However, what happens after production is equally important – connecting with roasters and traders domestically and globally.
“Auctions are a way to enhance the value and reputation of specialty coffee-producing regions. Typically, auction volumes are not large, but the prices are very high, six to seven times higher than regular coffee prices. Participating in auctions increases both value and credibility for the owners and introduces international customers to Vietnam’s exceptional coffee lots. This motivates farmers to develop specialty coffee production,” explained Mr. Trinh Duc Minh.
DEVELOPING HIGH-VALUE SPECIALTY COFFEE
Prior to the auction, the Vietnam Amazing Cup 2024 coffee competition was held by the Buon Ma Thuot Coffee Association under the guidance and patronage of the People’s Committee of Dak Lak Province. The contest saw an impressive 81 participants, a 72% increase from the first Vietnam Amazing Cup in 2023. The competitors represented 8 coffee-growing provinces nationwide, with 144 samples/lots, a 71% increase from the previous year, and a total volume of 255 tons, a 40% increase. Of this, Robusta accounted for 168 tons, and Arabica for 87 tons.
The Vietnam Amazing Cup 2024 maintained the blind evaluation principle through coding, with two rounds: preliminaries and finals. The evaluation criteria and procedures followed the regulations of the Specialty Coffee Association (SCA) and the Coffee Quality Institute (CQI).
In the Robusta category, the first prize went to Vietnam Organic Food and Agriculture Joint Stock Company, Dinh Lac, Di Linh, Lam Dong Province, with 84.82 points. Second place was awarded to Phan Em Coffee, Cu DliêM’nông, Cu M’gar, Dak Lak Province, with 84.79 points. Third place went to The Espresso Farm Joint Stock Company, Tan Ha, Lam Ha, Lam Dong Province, with 84.5 points.
For Arabica, the first prize was won by Pun Coffee Limited Company, Huong Phung, Huong Hoa, Quang Tri Province, with 85.29 points. The second prize went to Rẫy Rừng One-Member Limited Company, Dak Tang, Kon Plong, Kon Tum Province, with 85.18 points. Third place was secured by Pun Coffee Limited Company, Huong Phung, Huong Hoa, Quang Tri Province, with 85.14 points.
To promote the sustainable and transparent development of the specialty coffee market, Mr. Trinh Duc Minh shared that the Buon Ma Thuot Coffee Association established the Specialty Coffee Club in 2019. The club aims to bring fair and reasonable benefits to all stakeholders in the specialty coffee value chain, continuously improve coffee quality, and enhance the reputation of Vietnamese coffee.
In its five years of operation, despite its young age, the Buon Ma Thuot Specialty Coffee Club has organized numerous practical activities. They are currently collaborating with the V-SCOPE project and Simexco Dak Lak Company to provide training for farmers on coffee cultivation techniques to produce high-quality coffee.
Additionally, they offer training to improve roasting, grinding, and brewing techniques and enhance sensory skills and coffee tasting abilities. For a long time, the coffee industry relied heavily on labor and resource exploitation. The V-SCOPE project aims to improve the livelihoods of Vietnamese coffee producers by enhancing sustainable coffee farming practices and the coffee value chain.
Through comprehensive pilot intervention models, the project tests conversion pathways from low-segment coffee production to high-quality/specialty coffee production. As a result, coffee prices have increased significantly compared to conventional coffee production, improving the income of coffee farmers.
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