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Vinamilk gains Thai foothold
The Viet Nam Dairy Products Joint Stock Company (Vinamilk) said it would begin exporting dairy products to Thailand in the first quarter of this year in a US$10 million deal signed late last year.
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| Workers package milk at a Vinamilk plant. The company will for the first time start to export its products to Thailand in the next few days. |
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.
Chairman of Vinamilk's Management Board cum General Director Mai Kieu Lien said Vinamilk had actively participated in joint ventures with foreign partners to take advantages of their strengths, rather than competing with them.
Lien said they could benefit from their distribution systems and global marketing strategies.
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.
Last year, the company recorded $1 billion in turnover and contributed VND2.4 trillion ($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. These products 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 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.
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