Business

Yoghurt expected to lead growth in dairy market

The Vietnamese dairy industry hopes to grow at 20-25 percent annually through the next decade spearheaded by yoghurt products, according to the Animal Husbandry Department.
The Vietnamese dairy industry hopes to grow at 20-25 percent annuallythrough the next decade spearheaded by yoghurt products, according tothe Animal Husbandry Department.

Yoghurt accounts for just 12-20 percent of milk-based products in Vietnam compared to 50 percent in many countries.

The Vietnam Dairy Products Joint Stock Company, or Vinamilk, is thelargest player in the dairy market, selling fresh and processed milk,sweetened condensed milk, yoghurt, and other products.

Itsrevenue from yoghurt sales last year was 2 trillion VND (105.3 millionUSD), which accounted for 60 percent of the total yoghurt market.

Many other companies like the International Dairy Products Joint StockCo (IDP) and Kido Dairy Products JS Co have recently entered the yoghurtmarket, some with success.

Nguyen Tuan Dung, deputygeneral director of IDP, which makes Ba Vi yoghurt, said realising thepotential of the market, IDP has bought probiotics, a kind ofmicro-organism that aids fermentation, from Denmark to make yoghurtproducts.

For IDP, revenue from yoghurt is growing at thefastest pace among all dairy products, he revealed, adding that its BaVi brand is becoming popular around the country, especially in thenorth.

To improve their competitiveness, many companiesare developing their own dairy farms to source raw materials while someothers have opted to have tie-ups with dairies.

IDP, forinstance, offers interest-free loans to farmers in Ba Vi district nearHanoi to buy dairy cows and equipment like milking machines, withfarmers repaying them by supplying milk.

This has not onlyhelped the company set up a stable source of supply but also brings aconsiderable income to farmers, Nguyen Manh Khan, deputy chairman of theTan Linh Commune People's Committee in Ba Vi, said/.
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