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Dairy products in Vietnam most expensive in the world
While the average dairy products’ prices are $0.4/kg in Eastern European and South American countries and $0.8/kg in North America, the price in Vietnam is $0.82/kg.
At the workshop on dairy products held on August 26 in HCM City, FTA research company announced that Vietnam has the highest-priced dairy products in the world.
Tran Ngoc Dung, a staff of FTA, said that the average price of dairy products in Vietnam is much higher than those in other countries ($0.82/kg vs $0.4-0.8/kg).
In 2007, the total volume of dairy products consumed in Vietnam increased by 6% only, while the sum of money consumers spent on dairy products increased by 20%. The prices of dairy products for children increased sharply by 18-30%. As dairy products’ prices keep rising in 2008, analysts have predicted that $920mil worth of dairy products will be purchased this year, while the figure will be $1bil in 2009.
The FTA’s survey also showed that in 2007-2008, the prices of condensed milk increased by 5-6% only, while powder milk increased by 23-26%. Vietnamese people consume 9-10 kg of dairy products a year, a low level, while the sums of money they spend on dairy products are the highest in the world.
Mothers who have children aged between 2-4 all say that they would spend 50% of their income to buy the best products for their children. The families with the monthly incomes of VND2.5-4.9mil also spend VND1-1.2mil a month on milk for children.
Dung said that all mothers complain about the skyrocketing prices of dairy products, but all of them try to buy expensive products.
According to the Vietnam Institute for Policies and Strategies Development, Vietnamese people always prefer imported products to local ones because they think that the more expensive the products are, the better quality they have.
VNN
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