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Vietnam : Vinamilk to export milk products to China
Publish Date : 27-Dec-2017
Dairy giant Vinamilk is rolling out ambitious strategies to export its products to China.
General Director of Vinamilk Mai Kieu Lien said her company will boost sales in China. Average milk consumption in this market is relatively low, about 25kg per year, so there is a potential for stronger sales.
However, there remain many difficulties in exporting milk to China, she said, noting that Viet Nam and China dont have trade agreements on milk and milk products. Although Vinamilk signed an MoU with a Chinese partner, trade deals are still needed as some products havent been licensed to enter the market.
The Chinese side will survey Vinamilks factories to finish agreements in the near future, Lien added.
In 2017, the Viet Nam Dairy Products Joint Stock Company (Vinamilk) inked a memorandum of understanding (MoU) on cooperation in supplying dairy products to the Chinese market, a prerequisite for the official export of Vinamilk products to China.
The firm runs 13 factories in Vietnam and three others in the US, New Zealand and Cambodia, along with 10 dairy farms across Vietnam, and all of its cows are imported. Its products have been shipped to 43 countries like the US, Japan, Thailand and the Philippines, gaining more than VND5.74 trillion (US$253 million) in export revenue in 2016 which is expected to reach US$350 million in 2017.
China is described as a lucrative market, with total dairy market value of some US$30 billion per year. Vinamilk hopes the MoU will lay a foundation for the company to export dairy products in the near future.
Vinamilk is the largest dairy company in Viet Nam and among the worlds top 50 dairy companies in terms of revenue.
Beside the domestic market, the companys products are now shipped to 43 countries worldwide, including the United States, Japan, Thailand the Philippines and the Middle East. Last year, its export turnover topped $258 million.
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