Vietnam Specialty Coffee Auction: Arabica Sets Record Price at 1.2 Million VND/kg

On August 17, 2024, in Hanoi, Simexco Dak Lak, in collaboration with the Buon Ma Thuot Coffee Association, successfully hosted the second auction of Vietnam's 'best' coffee. The event showcased exceptional coffee lots carefully selected from the Vietnam Amazing Cup 2024 competition.

The auction featured 9 Robusta samples and 6 Arabica samples from 13 reputable producers. The highlight was the Arabica coffee batch from Pun Coffee Co., Ltd., cultivated on Pun Hill, Huong Phung Commune, Huong Hoa District, Quang Tri Province. Starting at 350,000 VND/kg, the 30kg lot achieved a record-breaking final bid of 1.2 million VND/kg. This coffee variety is noted for its complex flavor profile, ranging from spicy, citrus, and nutty notes to diverse tropical fruits and floral undertones.

Mr. Le Duc Huy, General Director of Simexco Dak Lak, emphasized the event's significance in directly connecting roasters with producers, providing an incentive to elevate the quality of Vietnamese agricultural products. Mr. Trinh Duc Minh, Chairman of the Buon Ma Thuot Coffee Association, affirmed that auctions are an effective strategy to promote reputation, enabling specialty coffee to command prices 6-7 times higher than conventional products.