Mekong Delta has much room for food processorsTrung Chanh CAN THO – The Mekong Delta region’s food processing sector has great growth potential owing to an abundance of produce there, but investment in the sector there remains modest, heard a conference in Can Tho City on December 12. Nguyen Phuong Lam, deputy director of the Vietnam Chamber of Commerce and Industry (VCCI)’s branch in Can Tho City, stressed at the conference on promoting investment to expand the food value chain that the delta has much room for food processors. He said the region is home to 20% of the country’s population, and boasts gross domestic product (GDP) per capita of an estimated US$2,700 in 2017, which suggests the region may have strong purchasing power in the future. He added the region has average export turnover of around US$13-15 billion a year. Its main products are rice, seafood and fruit which account for around 50% of outbound sales of the agricultural sector, equivalent to … [Read more...] about Mekong Delta has much room for food processors
Cauliflower rice without food processor
Vietnam’s food processors court global investors
Speaking at an investment promotion conference held on the sidelines of the Vietnam Foodexpo in HCM City on November 16, Deputy Minister of Industry and Trade Ho Thi Kim Thoa said the country’s food processing industry has failed to meet market demand. She was implying it meant a huge opportunity for investors entering the sector now. In the next 20 years, with 5-6 percent economic growth feasible and the imminent increase in urbanisation and development of the retail market, demand for food would continue to increase, especially for high-quality processed products, she said. Besides the promise of the domestic market, there is also huge potential for exports, she said, pointing out that for many years Vietnam has been one of the world’s largest exporters of many farm items like rice, coffee and cashew. Last year Vietnam earned 30.14 billion USD from agricultural, forestry and seafood exports. The figure is expected to cross 31 billion USD next … [Read more...] about Vietnam’s food processors court global investors
South Korea’s Daesang bids to buy Vietnam food processor for $33 mln
News that Daesang Cooperation intends to expand its operations in Vietnam by buying a Vietnamese food processor appeared in South Korean press at the end of June. Reuters quoted Daesang as saying that it will buy a 99.99 percent stake (13 million shares) in Duc Viet Food Joint Stock Company for 37.52 billion won ($33 million) by August 5. Talking with VnExpress, a representative from the Vietnamese company claimed that they are in negotiations and have yet to reach a final decision. Duc Viet Food is one of Vietnam’s leading food processing firms. A report from Deasang said that last year, Duc Viet had total assets of 16 billion won ($14 million) and liabilities of 7 billion won ($6 million). The South Korean food manufacturer first entered the Vietnamese market in the 1990s and has bought three manufacturing bases in Vietnam since then. Deasang expects the deal to act as a base for it to expand its business activities to other Southeast Asian countries such as Thailand, Cambodia … [Read more...] about South Korea’s Daesang bids to buy Vietnam food processor for $33 mln
Vietnam-Australia rice cooperation in fine shape
Rice cooperation between Vietnam and Australia is growing strongly and will continue to head upwards in the years to come. Photo for illustration. Deputy Prime Minister Vuong Dinh Hue, during his visit to the Australia, told a meeting with Australian businesses on July 24 that Vietnam can supply all types of rice in bulk to the country.Vietnam’s rice exports to Australia reached 220,000 tonnes last year, an increase of 50 per cent compared to 2015 and accounting for 4.5 per cent of all trade with the country.Mr. Rob Gordon, CEO of Sunrice, the world’s largest rice and food processor, said that some Vietnamese enterprises have exported micronutrient rice to islands in the Pacific Ocean under orders from Sunrice.He also suggested the Vietnam Government permit Sunrice to expand its business in Vietnam, transfer technology, and share its experience in rice production in a closed process with Vietnamese enterprises.Deputy PM Hue appreciated Sunrice’s goodwill and … [Read more...] about Vietnam-Australia rice cooperation in fine shape
Viet Nam’s food processors court global investors
Viet Nam’s food processing industry offers huge investment potential for investors both in terms of the domestic market and exports, according to the Ministry of Industry and Trade.Speaking at an investment promotion conference held on the sidelines of the Vietnam Foodexpo in HCM City on Wednesday, Deputy Minister of Industry and Trade Ho Thị Kim Thoa said the country’s food processing industry has failed to meet market demand.She was implying it meant a huge opportunity for investors entering the sector now.In the next 20 years, with 5-6 per cent economic growth feasible and the imminent increase in urbanisation and development of the retail market, demand for food would continue to increase, especially for high-quality processed products, she said.Besides the promise of the domestic market, there is also huge potential for exports, she said, pointing out that for many years Viet Nam has been one of the world’s largest exporters of many farm items like rice, … [Read more...] about Viet Nam’s food processors court global investors
Delicious, safe Jasmine 100 rice without preservatives
HCM CITY (Biz Hub) — Last weekend a new product appeared in the Vietnamese rice market - Jasmine 100 rice grown without chemical fertilisers or plant protection drugs and not infused with artificial flavours. Its outstanding safety features will safeguard consumers' health and the environment.Jasmine 100 rice meets VietGAP standards featuring six safety criteria that top consumers' concerns now:Firstly, it is grown without the use of chemical fertilisers, only 100 per cent high-quality organic fertilisers imported from the US are used.Secondly, it is not mixed with other rice varieties and is 100 per cent Jasmine rice.Thirdly, no preservatives and food additives are used.Fourthly, it contains no plant protection residuesFifthly, its flavour is completely natural and not artificially infused by using ther substances.Sixthly, its origins are easy to trace.The rice is white-grained, fewer grains are broken, and it is soft and sweet and fragrant to eat. Currently the high-quality … [Read more...] about Delicious, safe Jasmine 100 rice without preservatives
State-owned food processor to divest from affiliates
HA NOI (VNS)— Deputy PM Vu Van Ninh has approved the restructuring plan of the Viet Nam Southern Food Corporation (Vinafood2) by 2015. Accordingly, the food corporation will have withdrawn its capital from 18 enterprises, including Vietcombank, TrustBank, Bao Minh Insurance Corporation, and Ha Tien Cement. Under the plan, the corporation will own 10 food companies, two agricultural and food product companies and Binh Dong Flour Mill Company. Vinafood 2 was commissioned to focus on a one-million-tonne rice storehouse programme with automatic machines for dying, milling and processing.-VNS … [Read more...] about State-owned food processor to divest from affiliates
State-owned food processor to focus on core line of business
HA NOI (VNS) — The Viet Nam Southern Food Corp (Vinafood 2) will focus on its core business from now until 2015, as part of its reorganisation scheme recently approved by the Ministry of Agriculture and Rural Development. Its core business includes food preservation and processing, food wholesaling and retailing storage as well as food circulation and processed agricultural products. According to the scheme's mission statement: "Vinafood 2 will continue to bring into play its role as the State-owned enterprise in food trading and make greater efforts to stabilise food prices, while ensuring the country's food security and contributing to the overall economic stability." From now to 2015, Vinafood 2 will purchase of 3.5 million tonnes of rice annually, 90 per cent of which will be used for exports, while speeding up the completion of a rice warehouse system with 1.7 million tonne capacity. It also aims to post annual growths of 4.67 per cent and 4.16 per cent in revenue and … [Read more...] about State-owned food processor to focus on core line of business
Major food processor eyes feed company
HA NOI — Food processor Hung Vuong Co (HVG), on the 30 top shares on the HCM City Stock Exchange tracked by the VN30 Index, will acquire a majority interest in Viet Thang Feed Co (VTF), HVG chairman and general director Duong Ngoc Minh has told the publication Dau tu Chung khoan (Securities Investment). The acquisition would help HVG reach greater self-sufficiency in all steps of its operations, Minh said. "We will gain an advantage in all ranges of our business, from food supply to processing and export," he said. "We will also be the source of foreign currency for Viet Thang Feed to import materials." Exchange rates have significantly affected VTF's operations, with the company importing materials worth around US$50-60 million annually, he noted. The takeover would be carried out by purchasing three million VTF shares at an anticipated price of no less than VND20,000 per share. In addition to HVG, Viet Phu Foods and Fish Co is also eyeing a potential purchase of three … [Read more...] about Major food processor eyes feed company
Food processors to study US laws
Dried noodles are packaged by the Safaco Foodstuffs Joint Stock Co in HCM City. Domestic food processors and exporters are being urged to study changes in the US Food Safety Modernisation Act and regulations promulgated by the US Food and Drug Administration. — VNA/VNS Photo Dinh Hue HA NOI — Viet Nam food processors and exporters must study changes in the FDA Food Safety Modernisation Act conducted by the US Food and Drug Administration and measures to avoid common mistakes. The issue was breached at a seminar on exports to the US and requirements of food and pharmaceutical safety management agencies held by the Viet Nam Trade Promotion Agency and the US Registral Corp in the capital yesterday. David Lennarz, former technical expert at the US Food and Drug Administration (FDA) and vice president of the US Registral Corp, said since early this year, every food companies must re-register with the FDA … [Read more...] about Food processors to study US laws