February 10, 2012

Under a long-term development strategy, Vietnam Dairy Products Corporation (VNM) or Vinamilk is set to become one of the world's 50 largest milk producers by 2017, with expected annual sales of US$3 billion.

Its revenues were estimated at US$1 billion in 2011, the newspaper reported Thursday (Feb 9).

Vinamilk, one of the five Vietnamese biggest companies, has building a series of milk processing plants including US$75.23 million Miraka Powder Plant in New Zealand, US$119.76 million Mega Processing Plant in Vietnam's southern province of Binh Duong with an annual capacity of 400 million litres of milk, US$81.7 million Dielac 2 Powder Plant with annual capacity of 54,000 tonnes of powder.

The company also has milk processing plant in the central city of Danang capable to produce 64.4 million litres of milk yearly and 240 million of yogurt packages.

Along with supply for domestic consumption, Vinamilk also exports its dairy products to 15 foreign markets, including the US, Australia, Canada, Russia, Turkey, Iraq, Sri Lanka, the Philippines and South Korea.

In 2011, the company earned US$140 million from exports, rising 72% on year.