Vinamilk gains a foothold in Thai market

January 17, 2012 | 13:43

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The Vietnam Dairy Products Joint Stock Company (Vinamilk) has announced it will begin exporting dairy products to Thailand in the first quarter of this year in a $10 million deal signed late last year.

In 2011, Vinamilk exported $140 million worth of products to 15 countries all over the world, making an increase of 72 per cent against 2010.

Last year, the company recorded US$1 billion in turnover and contributed VND2400 billion ($120million) to the State budget. The figures represented a 37 per cent and 38 per cent increase, respectively, compared to 2010.

With more than 170,000 retail points set up across Viet Nam, Vinamilk's powdered milk now holds a 30 per cent market share.

In 2012, the company will strive for 30 per cent annual growth and will continue to diversify its product lines to meet increasing consumer demand.

Its main products currently include Dielac powdered milk, Ridielac, cereal powder for kids, condensed milk, yoghurt, soy milk and Vfresh fruit juices, which are exported to the USA, Australia, Canada, Russia, Turkey, Iraq, South Korea and Cambodia.

Last August, a powdered milk plant in New Zealand, in which Vinamilk has a stake, became operational. Vinamilk has a 19.3 per cent stake in the NZ$90 million ($74.43 million) Miraka Milk Powder Plant owned by the New Zealand-based Miraka Limited.

The plant, which is located on the North Island and is Vinamilk's first overseas investment, buys fresh milk from farmers in the Taupo region and produces dairy products for export. It has the capacity to produce 32,000 tonnes of powdered milk a year.

The Miraka project is part of Vinamilk's long-term strategy to achieve its target of becoming one of the world's 50 largest dairy producers by 2017 with annual revenues of $3 billion.

VNS

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