Hanoi, March 10 - Vietnam's top two soluble coffee products companies plan to increase exports by 10% this year to 2,200 metric tons, company officials said Monday.
Vinacafe Bienhoa Joint Stock Co., the country's biggest producer of instant and soluble coffee products, aims to export up to 1,800 tons this year, up 10% on year, said Nguyen Thanh Tung, marketing director.
Vinacafe Bienhoa, located 60 kilometers north of Ho Chi Minh City in Dong Nai province, is aiming to produce 12,000 tons this year, Tung told Dow Jones Newswires, giving no comparative figures.
"Vietnam's consumption of soluble coffee products is expected to rise by 17%-18% this year," he noted.
Vinacafe Bienhoa, which operates two plants, will launch a third plant later this year with 3,200 tons annual capacity, he said. "Most of our new production will be exported."
Thai Hoa Coffee Corp., the country's second biggest producer, is aiming to export 400 tons this year, said Nguyen Van An, director.
The company is building its largest plant, worth VND550 billion ($34.4 million). It will be operational by May 2009 and produce 2,000 tons a year, he said. "We will increase exports from 2009," An added.
An official with the state-owned Vietnam Coffee Corp., or Vinacafe, said China was the country's biggest importer, accounting for 80% of all exports of soluble coffee products. The other export markets are Taiwan, Japan and the U.S.
Vietnam's instant coffee industry has two other producers, Nestle Vietnam and Trung Nguyen Coffee Corp., but they focus on the domestic market, the Vinacafe official said.
Nestle Vietnam is estimated to produce 1,000 tons of mixed products a year, while Trung Nguyen produces about 500 tons a year, the official added.