New coffee rival for Nestle

Major commodity: A Vietnamese woman rides past a cafe called ‘Cannabis Coffee’ at Vinh city. Vietnam aims to double the value of its annual coffee exports to US$6bil in the next decade. — AFP

HO CHI MINH CITY: After quietly supplying coffee addicts their daily fix for decades, Vietnam is preparing to take on Nestle SA and its Asian rivals to reach them faster.

Instead of selling raw robusta beans to foreign companies for turning into instant coffee, Vietnam’s biggest supplier is preparing to offer its own soluble powder in early 2020. The shift is aimed at reaping more profit from Asia’s burgeoning demand for the quick-brewed beverage and to buffer the impact of large swings in international commodity prices.