Intimex plans a US$150 million freeze-dried coffee plant in HCMC: a turning point for Vietnam's coffee deep processing

Intimex Group, Vietnam's largest coffee exporter, is considering building a freeze-dried instant coffee plant in Ho Chi Minh City (HCMC). The investment is US$150 million (about JPY 22.5 billion). If realized, it would be a symbolic project in which Vietnam's coffee industry shifts from a raw-material exporter to a processed-goods exporter.

Overview of the plan and investment scale

Intimex Group's management revealed at its April 2026 shareholders' meeting a plan to build a freeze-dried (lyophilized) instant coffee plant within HCMC. The investment of US$150 million would be one of the largest capital expenditures in the company's history.

The freeze-dry method has higher manufacturing cost than spray-dry (spray drying) but is superior in retaining aroma and flavor. It is the mainstay of premium instant coffee in the Japanese and European markets, and the export unit price per kilogram reaches 2-3 times that of spray-dry.

At present the groundbreaking timing for the plant is not fixed, and it says it will move to execution once conditions are in place. The fiscal 2026 business plan, however, already incorporates raising the deep-processing ratio as a strategic goal.

Where Intimex Group stands now

Intimex Group is Vietnam's top company by coffee export share, handling 23.5% of national export volume in the 2022-2023 crop year.

It already operates an instant coffee plant in Binh Duong province with an annual capacity of 4,000 tonnes. Unable to keep up with demand, however, it plans to increase output to 8,000 tonnes in a second phase. This US$150 million freeze-dry plant is an advance into the furthest upstream of deep processing, going even beyond this expansion plan.

Structural problems of Vietnam's coffee industry

Although Vietnam is the world's second-largest coffee producer, the bulk of its exports remain Robusta green beans. The export value of processed goods stayed at US$1.18 billion as of 2024, no more than less than a third of the US$4.18 billion in green-bean export value.

This raw-material-export-dependent structure is the biggest challenge for Vietnam's coffee industry, with results easily swayed by international price swings. In 2025 Vietnam's total coffee export value reached US$8.92 billion, but this owed largely to the boost from surging unit prices, not to structural improvement.

The Vietnam Coffee and Cocoa Association (VICOFA) has set a target of raising exports of roasted and instant coffee to the scale of US$5-6 billion by 2030. Intimex's plant plan aligns with this national target.

Early-2026 coffee export data shows that Vietnam's Robusta price is stable at 87,000-88,000 VND/kg, an environment where raw-material sourcing costs are relatively predictable.

Industry reactions and companies' moves

Not only Intimex, but Vietnam's major coffee companies are all advancing investment in processing facilities at once.

Behind this move is the EU Deforestation Regulation (EUDR), which takes effect in 2026. Because the EUDR demands origin traceability, there is an aspect in which exporting as processed goods rather than green beans makes it easier to hold down regulatory-compliance costs. Intimex's management, too, has set optimizing output and raising the deep-processing ratio as pillars of its strategy.

What it means for Japanese companies

Japan is one of the major importers of Vietnamese coffee, with a high degree of dependence on Vietnam especially as a raw-material source for instant coffee.

If Intimex brings its freeze-dry plant into operation, two changes arise for Japanese food manufacturers.

The first is diversification of sourcing. Until now, freeze-dried coffee production was limited to local plants in Brazil and Colombia or to companies' own plants within Japan, but the addition of Vietnamese freeze-dried raw material broadens supply-chain options.

The second is a change in quality level. Vietnamese Robusta once had a low-quality image, but its quality has improved with the introduction of washed processing and the honey process. Combined with the freeze-dry step, there is potential for products in a different position from conventional Vietnamese coffee.

the expansion of frozen durian exports Likewise, Vietnam's agricultural-processing industry is in a transition period from quantity to quality.

Ripple effects and the focus ahead

If Intimex's plant investment is realized, the impact extends to the entire domestic Vietnamese coffee value chain.

For coffee farmers in the Central Highlands (Dak Lak, Lam Dong, Dak Nong), it means an increase in buyers of green beans. Lam Dong province's promotion of VietGAP Farmers who obtain quality certification through this become more able to get premium prices from processors.

On the other hand, operating a freeze-dry plant requires a stable power supply and the securing of cooling water, and HCMC's infrastructure capacity could become an issue. Also, an investment scale of US$150 million is equivalent to more than ten times Intimex's annual profit, and the method of fundraising (own funds, bank loans, or the participation of outside investors) is also a point of attention.

Summary

Intimex's US$150 million freeze-dry plant plan is a project symbolizing a turning point at which Vietnam's coffee industry moves from the world's bean field to the world's processing hub. The groundbreaking timing is not fixed, but competitors including Nestle, Trung Nguyen and Phuc Sinh are also accelerating processing investment, and the industry-wide shift to deep processing has become an irreversible flow. For Japanese food manufacturers, it will be an occasion to review their sourcing strategy from Vietnam.

Sources and references

• Vietstock: Intimex plant investment and performance targets
• VietnamPlus: Vietnam eyes to expand market for processed coffee
• Intimex Group: No.1 in coffee export volume