Mr. Phan Minh Thong - CEO of Phuc Sinh Joint Stock Company

We learned many things, especially how to sell. In my opinion, the secret lies in marketing - offers. I realize that to the foreign market, sellers have to understand the culture of the buyers, their needs. In addition, we also have a very serious investment to improve product quality. This largely support for the promotion and wholesale products to customers
- Everyone is talking about improving product’s quality. Specifically, how does Phuc Sinh implement to improve agricultural product quality?
In Phúc Sinh, we invest 4 firms, nursing, selecting the inputs to each step in order to  product is ready to meet clients’ needs with the best quality. Depending on clients’ wants, Phuc Sinh deliveries in quality and price.  “You get what you pay”. We have had a laboratory and applied ISO 17025 – Quality Management System and production factory operates in compliance with ISO 22000. We also have cup-testing room, and myself, I had learned how to cup-test coffee as a professional coffee trader. Sometimes having gone on business trips to foreign countries, our clients suddenly wanted to see my “skill” by cup-testing coffee.
Currently, the Phuc SInh is also one of four companies in VN having pepper plants sterilized. Two of them are plants of Dutch and American companies, the rest one of Singapore Group. In the process of the world corporations to control, evaluate, we always ensure the maximum reach.
- But can you share for us why does Phuc Sinh stand strongly in pepper and "encroach” over coffee?
Of course. When captured, do all their business formula usefully, we want to add other items. Coffee is a big market and an annual export volume up to millions of tons. In VN, the international representative offices operate in export coffee outnumbered. On the other hand, in VN, Robusta coffee production is the world‘s largest, so ignoring the coffee sector, it will be a significant disadvantage for any agribusiness enterprises which in VN.
-. I honestly do not understand why the export of coffee of Phuc Sinh meet favorably, even in the context of the global economy worsened, and the leading coffee Enterprises in VN heavily losses. Surely do you still keep secret?
Two recent years we export over 20 thousand tons coffee/ year. And we use these tools to support and secure / win price. Of course, we also have to incorporate other instruments such as capital, knowledge of the real goods trade and international goods through the floor.
- Having said that, you can conclude your business formula?
It‘s simple: Offer + Quality + Tools + Hard! Go and "play" with small and medium partners!
-. According to you, what is the challenge with VN coffee exports in general now?
Many companies still know about the tools to ensure / win transaction price, but how to use it at the right time, right place, and how to manage cash flow, manage risk and their own greed that is a another story. The more importance is that our businesses tend to ... still sit. I have to say, I have to reach out to the world through anyone. In the first year of doing coffee, many people predicted bankruptcy. The representative office "walls" around Phuc Sinh. We said: We will bore and cut the wall off and walk out to the world. And we did do.
-  So what did Phuc Sinh pay for the "learn fast" when entering to export coffee?
In the first year we lost $ 500.000, equivalent to 10 billion. But we determined to do. Just make it brake. The problem is that in the process you do not stop learning. Also not rely on risk management tools, particularly in operational matters, coordinating coffee trade. Do not see it as magical tools.
-. Anyway, it seems that pepper market competition is also compared with the coffee market?
Absolutely right. But more accurately, earlier competition to the series of foreign representative offices of pepper in VN to bankrupted. One year, coffee fluctuations 400-500 USD / ton, last year, Pepper is a variation to $ 3,800 / ton.
- So you are looking for SME customers around the world like?
I often subscribe to specialized fairs. There are dozens of such fairs held around the world each year. Each fair will gather a large number of SMEs. The cost to attend the fair are often quite expensive. Previously, many Vietnamese enterprises do not know the registration information should not attend. Besides, not many businesses want to invest. Starting last year, through the Association of pepper VN, I share all the information I have about the trade fairs in the world. Each year, the cost to attend the trade fair of Phuc Sinh estimated $ 200,000 and is still constantly increasing in export sales. Perhaps so that in 2010 Phuc Sinh has become the first enterprise of VN Association of pepper exports was voted the world‘s best exports of pepper and pepper products with added value.
- Please ask you the last sentence: destination, as well as what you expect when most market participants coffee?
With pepper, we aim to continue to hold the No. 1 spot was confirmed during the last 5 years. With coffee, next year Easter goal is to increase the number of export products to about 40,000 tons / year. Besides, we always look forward to the Association of Coffee Exporters VN will have the initiative and fight by any means so that the coffee trading centers of the world most needs to consider the storehouse Robusta coffee in VN. When the warehouse is not located in VN, Vietnamese businesses lost a lot of advantages. Also, I think, and aims to how to open up, scaling a training school specializing in trading agricultural commodities, based on real transactions and not on the books as a single number traded goods did. It‘s ridiculous when the yield  is the world‘s largest Robusta, with volume production is the huge to international market, but the basic things that we have not built!
Thank you for this interesting conversation!