Thursday, November 21, 2019 4:49:24 AM - Markets open
VN-INDEX 1,000.56 -7.79/-0.77%
HNX-INDEX 104.91 -0.58/-0.55%
UPCOM-INDEX 56.88 -0.14/-0.24%
Rising consumption to help dairy industry maintain good growth
VietnamPlus - 6/2/2019 11:59:36 AM
 (0 ratings. You must sign in to rate.)
The dairy industry's revenues grew at 12.7 percent a year on average in 2010-18, and the momentum is expected to continue thanks to an increase in milk consumption in the country, according to the Vietnam Dairy Association.
 
According to the association’s report at a conference on the dairy industry held on the sidelines of the on-going Vietnam International Milk and Dairy Products Exhibition, per capita milk consumption went up from 15 litres per person in 2010 to 27 litres last year.
 
The association’s chairman Tran Quang Trung said in anticipation of free trade agreements, local dairy firms have in the past five years invested boldly in their dairy farms and cattle and imported advanced technology for their plants.
 
According to Trung, local firms can now manage their entire chain from raw materials to the final products by using advanced technology.
 
He said the industry is seeing the appearance of many new milk processing plants equipped with advanced technologies that can compete with the global milk industry.
 
They have also invested in producing organic and seed milk and speciality products for different groups of consumers, hoping to capitalize on market demand, Trung said.
 
He said thanks to improving quality, Vietnam exported milk and dairy products worth 250-300 million USD a year to 43 countries and territories, including the US, France, Canada, Poland, the Middle East and Southeast Asia. Procedures have also been completed to export to China starting this year, he said.
 
There had also been a decrease in milk and dairy imports in recent years due to the increase in domestic production.
 
But the association admitted since domestic production only met 40 percent of demand, the imports would continue.
 
At another seminar also held on the sidelines of the exhibition, Nguyen Thuy Duong from the Ministry of Industry and Trade said free trade agreements had opened up opportunities for dairy firms to enhance their market share both at home and abroad.
 
But they would continue to face challenges and this required them to diversify their products, develop new ones, including special nutritional products, and improve quality and packaging, she said.
 
The Vietnam International Milk and Dairy Products Exhibition will open until June 2.-VNA
 
Read original article here
Newer News
20/11 Software firms are adding more value to their products
18/11 Steel products experience slow consumption in October
17/11 Household businesses to be regulated: NA deputies
16/11 Steel products experience slow consumption in October
13/11 Vietnam urged to promote circular economy
11/11 Vietnam’s exports estimated at 217.05 bln USD in 10 months
09/11 Livestock exports expected to fetch US$1.2 billion this year
07/11 Vietnam’s export tunover surges 7.4 percent in 10 months
03/11 Vietnamese telcos target 5G chipsets and devices
02/11 US forecasts bright outlook for trade with Việt Nam
Older News
01/06 More supply chains to shift to Việt Nam, ASEAN
31/05 National index of industrial production up 9.4 pct in five months
31/05 Vietnam, Japan agree to expand economic bond
30/05 Vietnam, Czech Republic bolster economic cooperation
29/05 Bloomberg: Vietnam’s goods exports to US surge
29/05 Slow and steady mango export success
28/05 Take a chance on Việt Nam: PM Phúc wants Swedish investment
27/05 FDI reaches 16.74 billion USD
26/05 Industry has important role to overcome middle income trap in VN
25/05 Aquatic businesses feel windfall from CPTPP
 
Newsletter Signup
Top Stories
Software firms are adding more value to their products
VN30 firms take 92% of all top listed firms’ total Q3 profits
Reference exchange rate unchanged on November 13
VN-Index slides for second day
Reference exchange rate reverses downward trend on October 23
Market Update
Last updated at 3:10:00 PM
VN-INDEX 1,000.56 -7.79/-0.77%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.