November 23, 2012

From January-November 15, 2012, Vietnam spent US$739 million on importing dairy products, falling by 0.58% from the same period last year.

In the first half of this month, the country has purchased foreign dairy products worth US$31.59 million, compared to US$36.09 million in the same period last month, the General Department of Customs said.

New Zealand was the biggest supplier of dairy products for Vietnam. In the first nine months of this year, Vietnam bought dairy products worth US$163.93 million from the country.

The US and Singapore followed with export revenues hitting US$64.83 million and US$50.95 million between January and September, respectively.

Other main suppliers were Germany, France, Thailand, the Netherlands, Malaysia, Denmark and Poland.

Vietnam's output of fresh milk meets only around 28% of the country's demand for milk. The country has to import a large amount of dairy products, mainly powdered milk, every year.

Due to a heavy reliance on imports, prices of dairy products in Vietnam are higher than those in other countries in the region.