In mid-August, a total of 9 Robusta and 6 Arabica coffees were auctioned at a specialty coffee auction jointly organized by Simexco Vietnam and the Buon Ma Thuot Coffee Association. In the end, Arabica coffee from Pun Coffee Company received the highest auction price at 1.2 million VND/kg (about 48 US dollars).

Since the beginning of this year, the export volume and price of Vietnamese specialty coffee have increased, which has also brought major reform opportunities to Vietnam's commercial coffee industry. The Buon Ma Thuot Coffee Association pointed out that the development of specialty coffee in Vietnam is a relatively new phenomenon and has made significant progress in the past decade. For businesses engaged in specialty coffee, it is not only necessary to produce high-quality specialty coffee, but also to market it effectively. Auctions play a vital role in enhancing the value and reputation of specialty coffee producing areas. Although they usually involve smaller quantities, the price can be six to seven times higher than ordinary coffee. Participating in such auctions not only enhances the value and reputation of coffee, but also introduces Vietnam's high-quality coffee to international customers and encourages farmers to continue to grow specialty coffee.