Vietnam Intimex Joint Stock Corporation, Intimex Group
Vietnam’s largest coffee bean exporter, Intimex Group, is looking to expand its business this year, with a plan to offer 49% stake to foreign investors.
Đang xem: Vietnam intimex joint stock corporation
Source: UnsplashIn its early days, it had one headquarters and three branches, 91 staff, limited working facilities, and only 14.4 billion VND charter capital. But the company has grown in great measures over the last decade and has become one of the most prestigious brands in Vietnam’s agricultural sector.
It also has a total of 11 coffee factories, located on the Central Highlands, focusing on high-quality coffee for export.
Intimex, which also exports rice, cashews, and black pepper, expanded trade to most of the world’s biggest markets, including Europe, the USA, Africa, Australia, China, and the ASEAN. In 2019, the company reported shipments of almost $1 billion, and the number can only grow from there. In fact, Nam sees the company’s 2021 revenue at 40 million VND ($1.7 billion).
Coffee Production and Export Amidst COVID-19
Vietnam exported 1.7 million tons of coffee in 2020, earning $2.7 billion, the Ministry of Agriculture and Rural Development reported. The number represents 18 % of the global market share, while the sum equals to more than one-tenth of coffee world sales.
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The figures have dropped significantly, according to the Vietnam Coffee-Cocoa Association. The country’s coffee exports and consumption in 2019-2020 have taken a hit due to the global health crisis, with coffee export output and turnover down by around 5%. Export turnover of processed coffee products also dropped by 8.7%.
“Due to social distancing, many cafes could not operate during the outbreak. Foreign tourism is also closed, and tourists play a big part in Vietnam’s coffee consumption, so domestic consumption saw a drop, said Luong Van Tu, chairman of the association.
Source: UnsplashExperts forecast that the coffee market may recover slowly as COVID-19 (plus the impact of storms, climate change and aging crops) may further hamper production and exports. The fact that tourism activities may not fully resume this year, more coffee shops will also be forced to shut down.
Amidst the present challenges, Vietnam Coffee-Cocoa Association is shifting focus on renewing coffee crops and helping businesses with exporting opportunities via the EU-Vietnam Free Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
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To achieve this, the coffee industry needs to standardize its procedures for farming, harvesting, and processing to make sure coffee products from Vietnam meet the EU’s standards on quality, crop protection agents, and food safety.
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