Foreign units prioritize purchases of Vietnamese rice, coffee: association

Vietnam is one of the world's major producers of rice and coffee, and international partners are prioritizing the procurement of Vietnamese products, according to Ly Kim Chi, chairman of the Food and Foodstuff Association of Ho Chi Minh City.

Chi was speaking at a press conference to announce the program for the HCMC International Food Industry Exhibition 2024 (HCMC Foodex 2024) on Tuesday. The event was organized by the Investment and Trade Promotion Center of HCMC (ITPC).

Tran Phu Lu, director of ITPC, said that this is the third time that HCMC Foodex has been held for culinary entrepreneurs from HCMC and 38 other provinces and cities to interact, trade, and showcase their goods. As part of the exhibition program, the organizers will host cooking contests for people from other countries to introduce Vietnamese spices.

HCMC Foodex 2024 will take place from May 15-18 at the Saigon Exhibition and Convention Center-SECC, District 7, HCMC. The event is expected to attract 18,000 people.

Lu added that food is one of the four pillars of the city's economic development. “Besides, we hope to build HCMC as an international exhibition center. By holding international fairs here, we can attract many businesses,” Lu said.

Chi said that the food processing sector in Vietnam is gaining a lot of attention. The two most popular items for orders coming from overseas are rice and coffee. Additionally, Vietnam has the best relative supply of these commodities. Prices for coffee growers have never been better, and farmers are beginning to reap the rewards.

Chi told The Investor that Brazil is a key global supplier of coffee, and future coffee prices are hard to anticipate and mostly dependent on Brazil’s crop. The quality of Brazil's crop influences coffee prices around the world.

The expo, themed "Connecting values for mutual development", is anticipated to bring together about 400 enterprises, organizations, and associations from both domestic and foreign markets, facilitating business-to-business trade.

About 500 exhibitors will display in an 8,000 square meter exhibition area at HCMC Foodex 2024, helping to provide an overview of the dynamic growth of the food processing sector in Ho Chi Minh City, encouraging corporate collaboration prospects, drawing in efficient investment resources, and promoting high-quality goods and companies in the food sector with respectable brands.