15:18 | 19/05/2016 Companies
The International Dairy Joint-Stock Company (IDP) on May 13 launched in Viet Nam its LiF 100-per cent Fresh Milk produced and packed by its partner, Pactum Dairy Group, in Goulburn Valley, Australia.
Representatives from IDP at the launching ceremony — VNS Photo
The cows in Goulburn Valley are raised with natural feed from meadows year-round.
Unsweetened and slightly sweetened milk products are sold at VNĐ36,000 (US$1.6) for one litre and VNĐ12,000 for a 250-ml milk box.
The price is about 10 to 12 per cent higher than locally produced milk and 20 to 25 per cent lower than other imported fresh milk products, according to IDP CEO Trần Bảo Minh.
Minh, who expects to sell four million litres in the first year, said his network has more than 1,000 sales employees and 180 distributors.
He also plans to work with his Australian partner to produce other dairy products.
Việt Nam consumes 2 billion litres of milk each year, 30 per cent of which are fresh and 70 per cent reconstituted milk.
IDP was established in 2004. In 2014 it attracted US$75 million in investment from VinaCapital and Japan's Daiwa Investment Corporation./.