November 23, 2024 | 20:31 GMT +7

  • Click to copy
Saturday- 16:03, 23/01/2021

New Zealand is Vietnam’s largest milk supplier in 2020

Vietnam spent over US$ 1billion importing milk and dairy products in 2020. Most of the imported milk and dairy products to the country last year were from New Zealand.

According to the General Department of Customs, Vietnam’s import revenue of milk and dairy products last year was US$ 1.048 billion, an increase of 0.1 per cent compared with that of 2019.

Among imported milk and dairy products to Vietnam, powdered milk has the biggest import value.

Among imported milk and dairy products to Vietnam, powdered milk has the biggest import value.

New Zealand was Vietnam’s largest milk supplier last year as imports from Newzealand reached US$ 286 million, accounting for over 27% of the total import turnover of this commodity group of the country.

US was the second-largest milk supplier to Vietnam with import value reaching US$173 million or 16 per cent of total milk import turnover of Vietnam.

Other major milk exporters to Vietnam last year were Malaysia with the import value of US$ 66 million, Thailand US$ 62 million and Japan US$61.7 million.

Some EU countries were also exporting milk to Vietnam including Germany (US$42 million), Netherland (US$ 39 million), Ireland (US$ 33 million) and France (US$31 million). For the first ten months of last year, milk import turnover from EU to Vietnam reached US$ 170.1 million, accounting for 19 per cent of total share market and seeing an increase of 3.9 per cent compared with that of the same period in 2019.

The Europe-Vietnam Free Trade Agreement (EVFTA) is expected to boost the milk export from EU to Vietnam in coming time.

Under the EVFTA, import taxes for milk and dairy products including non-condensing milk/creamers, unsweetened milk/creamers or those containing a natural ingredient of milk from EU to Vietnam would be regularly decreased from 5 per cent to 0-3.5 per cent. Decreased import taxes will affect Vietnam’s milk imports.

In terms of kinds of milk, powdered milk was most imported into Vietnam. In the first ten months of last year, Vietnam imported powdered milk worth US$ 289.5 million, a decline of 8.9 per cent compared with that of the same period of 2019.

The import of skimmed powdered milk ranked the second with a total import value of US$ 231.5 million, an increase of 17.4 per cent compared with that of the same period of 2019. The import value of full cream powdered milk increased 16.2 per cent, reaching US$ 123.8 million.

Other kinds of imported milk and dairy products saw positive growths last year, for examples, UHT milk import value reached US$ 49.9 million, 64.3 per cent higher than that of 2019, food powder import value increased 38.6 per cent, yogurt 19.6 per cent.

However, import values of some other products declined, for examples, sweetened condensed milk 46.2 per cent, Anhydrous butterfat 25.6 per cent and butter 22.5 per cent.

Dairy cows are raised in New Zealand – the biggest milk exporter to Vietnam. Photo: Georgeherald.

Dairy cows are raised in New Zealand – the biggest milk exporter to Vietnam. Photo: Georgeherald.

Author: Thanh Son

Translated by Hien Anh

IGC sees global grain stocks tightening

IGC sees global grain stocks tightening

(VAN) In its monthly grain market report, released on Nov. 21, the IGC revised total grains ending stocks lower by 8 million tonnes, to 576 million, a 3.5% decrease from the previous year.

How to escape the 'cheap price trap' for tea exports?

How to escape the 'cheap price trap' for tea exports?

(VAN) Vietnam's tea industry, one of the top five tea-exporting countries in the world, is facing a concerning reality as the average export price of Vietnamese tea is only 67% of the global tea price.

Fruit and vegetable prices surge in Russia, driving inflation

Fruit and vegetable prices surge in Russia, driving inflation

(VAN) Analysts at EastFruit have observed that fruits and vegetables are contributing to inflation in Russia, despite the government's efforts to combat it through fiscal policies and an increase in the key interest rate to 21%.

The importance of tea varieties for the Vietnamese tea industry

The importance of tea varieties for the Vietnamese tea industry

(VAN) Expanding high-quality tea varieties has become a strategic goal for Vietnam's tea industry to increase export value and escape the 'cheap price trap' when exporting tea to global markets.

Developing OCOP products to reach export markets worldwide

Developing OCOP products to reach export markets worldwide

(VAN) After implementing the OCOP program, several products from Bac Kan Province have established a strong presence in the market and are moving towards export.

Nearly 10 tons of bird's nest were exported to China

Nearly 10 tons of bird's nest were exported to China

(VAN) On November 20, a Vietnamese company exported nearly 10 tons of bird's nest to China's market through the Bac Luan II border gate in Quang Ninh.

Halal certification helps enhance the position of Vietnamese agricultural products

Halal certification helps enhance the position of Vietnamese agricultural products

(VAN) Many businesses believe that Halal market is huge and has a lot of potential; even in Vietnam, there are Muslims, and improving product quality is important.

Read more