February 3, 2012

Vietnam's January dairy imports up 27.7%

Vietnam's General Statistics Office estimated on Thursday (Feb 2) that the country spent US$60 million on importing of milk and dairy products in January 2012.

The figure represented 27.7% on-year increase, the agency said in its report.

In 2011, Vietnam's expenditures on importing dairy products rose 19.7% on year to US$848 million.

Due to insufficient domestic supply, Vietnam has to import large volume of dairy products to supply local demand.

In Vietnam, dairy products are offered at prices higher than that in other countries.

After the Lunar New Year festival or Tet holiday, milk producers started to increase their products' prices by between 7-19%.