The export value of Vietnamese coffee to Canada reached over USD 4.4 million in the first quarter of 2024, up 12.2% compared to the same period last year.
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A store introduces Cactus coffee products in Toronto, Canada. |
Vietnam earned over USD 32 million from exporting coffee to Canada in 2023, the highest level in the 2013 – 2023 period, growing by 220% compared to the time before the two countries joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Taking this opportunity, Cactus, a young Vietnamese enterprise investing in Canada, decided to set up a store in the bustling city of Toronto to introduce Vietnamese coffee, towards exploring and expanding the export market for Vietnamese coffee products.
Cactus set up shop in 2021 - the peak of the COVID-19 pandemic, facing many difficulties. Currently, its coffee store has grown significantly and gained a stable customer base.
Co-owner of Cactus Nguyen Thi Kim Anh said she hopes that the brand will grow strong like a cactus, despite many challenges they may face in the country.
With the expansion of Vietnamese brands like Cactus, Vietnamese coffee has the opportunity to surpass Mexico to enter the top 10 largest coffee exporters to the Canadian market.
Anh said with a sizable and stable number of customers, the brand is on a strong growth trajectory. Therefore, the firm plans to expand its business model through franchising.
Vietnamese Trade Counsellor in Canada Tran Thu Quynh said the office hopes to collaborate with Cactus to turn this establishment into a destination for introducing and promoting Vietnamese brands.
According to Quynh, besides developing coffee brands originating from Vietnam, Cactus can boost franchising to build its chain of establishments across Canada. This is one of the ways to boost export value, thus bringing significant benefits to Vietnam's exports in the coming time.
Vietnam currently holds the most prestigious reputation for coffee among member countries of the Association of Southeast Asia Nations (ASEAN) in Canada, capturing approximately a 2% market share. The CPTPP has created significant tariff advantages, enabling Vietnamese coffee to potentially surpass competitive rivals from other ASEAN states, India, and even China.
Source: VNA