Vietnam has lowest milk prices in Asia: EuroCham

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The European Chamber of Commerce in Vietnam (EuroCham) has said imported milk products in Vietnam are the cheapest in Asia, a finding that completely goes against what local authorities have said earlier.

EuroCham said it found prices of high-end milk powder imports in Vietnam this year were much lower than those in Indonesia, Singapore and China, by between 62 percent and 93 percent.

The announcement is at loggerheads with a study conducted by the Ministry of Industry and Trade last year, which found dairy prices in Vietnam were 20-150 percent higher than those in regional countries.

In an attempt to protect local consumers, the Ministry of Finance named 150 companies that had to register their prices with the authorities, including major foreign-owned dairy firms.

The move has been protested by foreign business groups. However, local authorities said it was legitimate and the country had not violated any WTO rules.

EuroCham Chairman Rich Pham said there has been a false impression that Vietnamese dairy prices are among the highest in the world because different milk products were compared.

He said it would not be accurate to weigh high-end products in Vietnam against mid-priced products in other countries.

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