Specialty food could be gold mine for foreign investors
Many foreign-invested enterprises have successfully developed products made of pure Vietnamese materials.
Like fish sauce, Vietnamese peanuts are also attractive in the eyes of foreign investors, including PepsiCo and Liwayway from the Philippines.
Vietnamese enterprises were the pioneers in introducing peanuts, coconut extract and potato products to consumers, but foreign invested enterprises have received the biggest benefits from the products.
In 2006, Pepsi Co marketed Poca peanut snacks. Just a short time later, Liwayway joined the market with Oishi snacks and peanuts.
Peanuts and other materials grown on Vietnamese land have been fully exploited by foreign enterprises to make profits and compete directly with Vietnamese enterprises.
 |
The product reportedly saw a 3% growth rate just five years later, which was double the drinks’ growth rate.
Da Lat Arabica coffee
Most recently, the news about Da Lat coffee available at Starbucks’ global chain appeared on the first page of print newspapers in Vietnam.
Vietnamese take pride in their delicious coffee which is favored all over the world. However, the specialty coffee could only reach world consumers through a US café chain.
This indicates that Vietnamese businesses have not been successful in developing Vietnamese specialty food and bringing it to the world.
Starbucks now collects Da Lat coffee grown in Cau Dat area and sells the coffee under the name Starbucks Reserve Vietnam Da Lat.
Starbucks said the Vietnamese coffee would be sold at more than 21,500 shops in 56 countries.
The price for one kilo of roasted Da Lat coffee at Starbucks stores is US$50.
While Da Lat’s arabica coffee is well-known for its quality, the total number of hectares devoted to coffee fields, which have existed in Cau Dat for 140 years, is shrinking.
