Vinamilk gets license to export sweetened condensed milk to China

China has officially granted a transaction code and allowed a Vinamilk (HoSE: VNM) to export sweetened condensed milk and other condensed milk to the market.

Earlier, TH True Milk's sterilized milk and modified milk products were granted license to enter Chinese market, NDH news outlet said.

So far, two out of five Vietnamese dairy producers have been granted export code. Three other enterprises Moc Chau Milk, Nutifood, and Hanoimilk, which had been approved by Chinese government, are waiting export codes.

The General Department of Customs of China said the agency is reviewing and evaluating other Vietnamese factories and dairy producers.

China, the world’s second strongest milk consumer, reports per capita milk consumption increasing. China's figure show that each person consumes 22.5 kg of milk annually, higher than Vietnam by 19 kg, according to Euromonitor.

Vinamilk sees China a potential market. The firm has been planning to boost this market since 2019 while the Middle East market was affected by political instability and the U.S. market was slowing down.

General Director of Vinamilk Mai Kieu Lien said that dairy export to China has not been affected by the coronavirus outbreak since it is exporting by sea to the market.

Beside exporting to China, Vinamilk announced that it had successfully signed a $20 million contract to export milk at the Gulfood Dubai Fair, one of the three largest fairs in the world about food and agricultural products.

Source: NDH