Vietnam's leading dairy firm is increasing its support for dairy farmers and delivery channels by raising purchase prices by more than 8 percent, the Hanoi Moi newspaper said Monday.
The company will pay an extra VND650 to farmers and VND100 to the delivering firm or individual for each kilogram of cow milk it buys.
That means it will buy milk at between VND9,750-10,250 (around US$0.50) a kilogram, depending on the region.
Vinamilk said the increased prices are meant to help the farmers overcome financial difficulties and encourage them to increase the number of cows as well as raise the quality of milk.
The company also said it would raise the price of its fresh milk products by three percent.
Vinamilk says it has raised its purchase price several times this year, totaling 29 percent.
The company has been listed by Forbes Asia as being among 200 best small and medium enterprises in Asia this year.