BUSINESS NEWS HEADLINES FEB. 24

Another dairy firm eligible for export to China Illustrative image A factory of the Vietnam Dairy Products JSC (Vinamilk) has been allowed by China’s General Administration of Customs (GAC) to export its sweetened condensed milk and other condensed milk products to the country, according to the Vietnamese Ministry of Industry and Trade. Vinamilk is the second Vietnamese dairy producer eligible for export to China, after TH Milk JSC whose sterilized and modified milk products have been put on Chinese shelves since October last year. Vinamilk is running 12 farms across the country, including two under European organic standards and 10 meeting GlobalGAP standards. The GAC said that it is weighing export documents of other Vietnamese dairy companies. With a population of more than 1.4 billion, China has a huge demand for milk and dairy products. China consumes the most milk in the world, with a total value of 60 billion USD. Vietnam targets a rise from 120 million USD to 300 million USD in dairy export revenue to China in 2020. Chairman of the Vietnam Dairy Association Tran Quang Trung said the domestic dairy industry has achieved good growth in recent years. Many large enterprises such as Vinamilk, TH True… Read full this story

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