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Vietnam’s Coffee Exports Reach Record High, Boosted by Rising Prices

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Vietnams Coffee Exports Reach Record High, Boosted by Rising Prices

Record-Breaking Earnings

Vietnam’s coffee export earnings hit an all-time-high of US$4.08 billion in coffee year 2022/23, up 3.4% from the previous year, despite a drop in volumes. In the year ending September 2023, the country shipped nearly 1.7 million tonnes of coffee, down 4.5 per cent compared to CY 2021/22.

Rising Export Prices

This impressive feat was made possible by a 5.5% increase in the average coffee export price, which reached $2,451 per tonne.

Robusta and Arabica Exports

Exports of Robusta reached 1.5 million tonnes worth $3.2 billion. Arabica exports amounted to 41,500 tonnes in volume and $169 million in value.

Roasted and Soluble Coffee Exports

Roasted and soluble coffee exports were about 90,000 tonnes earning $510 million. This accounts for 5.4 per cent in volume and 12.5 per cent in value of overall coffee exports in the 2022-23 crop year.

Top Export Markets

In 2022/23, Germany was the largest coffee export market of Vietnam with 219,000 tonnes, followed by Italy with 156,000 tonnes, the US with 143,000 tonnes, Japan with 112,000 tonnes, Russia with 107,000 tonnes, Spain with 100,000 tonnes, Belgium with 73,000 tonnes, and Algeria with 64,000 tonnes.

Competitive Advantages

The UK-Vietnam Free Trade Agreement and the UK’s participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership have been creating additional competitive advantages for Vietnamese coffee in the market, said Nguyen Canh Cuong, trade counsellor at Vietnam’s Embassy to the UK, quoted by VNS.

UK Market Potential

Over the past five months of 2023, the UK imported nearly 20,000 tonnes of coffee from Vietnam. The export price of Vietnamese coffee to the UK was 13.7 per cent higher than the general export price of Vietnamese coffee in the period.

Meeting Consumer Demands

Experts said the UK market is very competitive with imports from many countries. To keep stability in coffee exports to the UK, the Vietnamese coffee industry needed to meet increasingly stringent requirements as well as the consumer tastes of the British people, said VNS.

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Browns Investments PLC Completes Acquisition of James Finlay Kenya

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Browns Investments PLC Completes Acquisition of James Finlay Kenya

Expanding into the Kenyan Tea Industry

Browns Investments PLC, a leading plantation business based in Sri Lanka, has finalized its acquisition of Kenyan tea estates business James Finlay Kenya from Finlays. This move marks Browns’ first investment in the Kenyan tea industry and presents an exciting opportunity for growth.

A Sustainable Approach to Growth

Finlays selected Browns Investments PLC as the approved buyer due to its strong legacy of guiding tea estates to continued growth, while also prioritizing sustainability and supporting the local workforce and communities. Browns has a proud heritage in operating plantation businesses and has demonstrated its commitment to sustainable growth through its successful acquisition of Finlays’ Sri Lankan tea estates business in December 2021.

The Acquisition Details

James Finlay Kenya is a leading grower, manufacturer, and supplier of Kenyan tea, covering a self-contained area of 10,300 hectares. The sale includes all parts of James Finlay Kenya Ltd except the Saosa tea extraction facility, which will remain under Finlays’ ownership and be renamed ‘Finlays Extracts, Kenya’.

A Bright and Exciting Vision

James Finlay Kenya will be rebranded as ‘Browns Plantations Kenya’ in the near future. Browns Investments PLC sees this acquisition as an opportunity for continued growth and is committed to maintaining a close relationship with the JFK community. Additionally, 15% of shares in James Finlay Kenya will be owned by members of the local community.

Investing in Kenya’s Tea Industry

Finlays, with its long history in Kenya, will continue to invest in the country through its ownership of the Saosa tea extracts facility and its Kenyan tea sourcing and packing operation, James Finlay Mombasa. Saosa adds significant value to the Kenyan economy by manufacturing a range of tea extracts and aromas.

James Woodrow, Group Managing Director of Finlays, expressed his confidence in Browns Investments PLC, stating, “In Browns Investments, the JFK community has a conscientious new investor with a bright and exciting vision. While this marks the end of an era, we are delighted that members of the local community will have a stake in the future success of James Finlay Kenya.”

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New EU Data Act Aims to Boost Data Access and Sharing

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New EU Data Act Aims to Boost Data Access and Sharing

EU Takes the Lead in Data Industry

The European Council has adopted the Data Act, a new rule aimed at promoting fair access to and use of data in the EU. The act places obligations on manufacturers and service providers to allow users to access and reuse data generated by their products and services, from coffee machines to wind turbines. It also allows users to share their data with third parties, such as mechanics or insurance companies.

Unlocking Economic Potential

The Spanish Minister of Digital Transformation, José Luis Escrivá, believes that the adoption of the Data Act is a significant step towards creating a Europe fit for the digital age. He states, “The new law will unlock a huge economic potential and significantly contribute to a European internal market for data. Data trading and the overarching use of data will be boosted, and new market opportunities will open to the benefit of our citizens and businesses across Europe.”

Key Objectives of the Regulation

The Data Act aims to achieve the following:

  • Establish new rules for accessing and using data generated in the EU across all economic sectors
  • Ease the switching between providers of data processing services
  • Implement safeguards against unlawful data transfer
  • Develop interoperability standards for data reuse between sectors

Empowering Individuals and Businesses

The new law gives individuals and businesses greater control over their data by reinforcing the right to portability. This means that they can easily copy or transfer data generated by smart objects, machines, and devices across different services. The aim is to empower consumers and companies, allowing them to have a say in how their connected product data is used.

Access to IoT Data

The Data Act focuses on the functionalities of data collected by connected products, rather than the products themselves. It introduces the distinction between ‘product data’ and ‘related service data’, allowing readily available data to be shared.

Protection of Trade Secrets and Dispute Settlement

The new law ensures a level of protection for trade secrets and intellectual property rights, while also providing safeguards against abusive behavior. While promoting data sharing, the regulation also aims to support EU industries and establish dispute settlement mechanisms.

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Canada Dry Mott’s Inc. and Geloso Group Partner to Expand Distribution of #1 Caesar Brand in Quebec

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Canada Dry Mott’s Inc. and Geloso Group Partner to Expand Distribution of #1 Caesar Brand in Quebec

Exclusive Partnership to Introduce Mott’s Clamato Caesar in Quebec

Canada Dry Mott’s Inc., operating as Keurig Dr Pepper Canada, and Geloso Group of Companies have announced an exclusive partnership to expand the distribution of Canada’s #1 Caesar brand in Quebec. Geloso Group, a manufacturer and producer of premium malt beverages, will have exclusive rights to produce and sell the malt-based Mott’s Clamato Caesar in the province. The partnership aims to increase the reach and distribution of this iconic Canadian beverage.

Expanding the Ready-to-Drink Category in Canada

Keurig Dr Pepper Canada is looking to tap into new opportunities in the ready-to-drink category in Canada. By partnering with Geloso Group, a Quebec-based company with expertise in malt-based beverages, Keurig Dr Pepper Canada aims to expand its cold beverage portfolio. This mutually beneficial agreement will allow both companies to capitalize on the success of the Mott’s Clamato Caesar and reach a wider audience.

A Testament to Quality Craftsmanship and Brand Building

Geloso Group is proud to enter into an exclusive partnership with Keurig Dr Pepper Canada. This partnership is a testament to Geloso Group’s quality craftsmanship in beverages and exceptional brand building capabilities. As the natural choice to entrust the success of the Mott’s Clamato Caesar in Quebec, Geloso Group is excited to bring this iconic beverage to consumers across the province.

New Malt-Based Ready-to-Drink Caesar Coming in 2024

Starting in the Spring of 2024, consumers in Quebec can look forward to two signature flavors of the malt-based ready-to-drink Mott’s Clamato Caesar. The Original and Extra Spicy versions will be available in six or twelve packs of 341 ml cans, as well as single serve 458 ml cans. Quebec grocery and convenience retailers will carry the new beverage, allowing consumers to enjoy their national cocktail in a convenient format.

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