Vietnam exports cooking oil to international market for the first time

For the first time in Vietnam, a type of cooking oil is exported to the international market. Initially, Vietnam will exclusively export this type of cooking oil to 6 countries: China, Korea, Myanmar, Laos, Bangladesh and Ghana.

Signing ceremony to distribute OTRAN cooking oil in 6 countries

VinaCommodities Joint Stock Company held a signing ceremony for the exclusive distribution of OTRAN edible oil with trade representatives of 6 countries: China, Korea, Myanmar, Laos, Bangladesh and Ghana, making OTRAN the first Vietnamese cooking oil to be exported to the world market, surprising even the cooking oil processing experts.

Because in fact, the demand for cooking oil in Vietnam is very large but meeting the demand in the domestic market is still difficult. According to the Institute for Industrial Policy Strategy Research, the demand for vegetable oil in the future will increase sharply. In 2010, the average consumption of vegetable oil was 7.3 - 8.3 kg/person/year, it is expected that in 2020 the consumption will increase to 16.2 - 17.4 kg/person/year and in 2025 it is expected to be 18.6 - 19.9 kg/person/year.

The potential of the oil industry in the domestic market is still very large, however the weakest point of this industry is that over 90% of raw materials must be imported, the main domestic raw materials are sesame oil, peanut oil and rice bran.

Up to now, cooking oil suppliers still have to import crude oil for extraction and bottling, import refined oil for blending and bottling, or import whole bottles to supply in the Vietnamese market. In particular, no product is strong enough to reach the world market.

Meanwhile, OTRAN is the first Vietnamese cooking oil product to be exported to the world market. It is also the first fresh-pressed soybean oil product with a Vietnamese brand.

According to Mr. Tran Van Toan, Chairman of the Board of Directors of VinaCommodities Joint Stock Company, grasping the essential needs and great potential of the domestic market, in 2010, VinaCommodities Company and Quang Minh Group built the first soybean oil pressing factory in Vietnam with a capacity of 1,000 tons of raw materials/day.

In addition, VinaCommodities also invested in a completely closed bottling line using Italian technology in Pho Noi A Industrial Park, Hung Yen province, with a production process closely monitored by leading international food experts and strictly managed by the ISO 22000:2005 and HACCP management systems.

Mr. Toan also added that in early 2013, VinaCommodities and Quang Minh Group will build a cooking oil factory with a capacity of 3,000 tons of raw materials per day in Cai Mep Port area to boost exports. VinaCommodities has entered the TOP 500 largest private enterprises in Vietnam with a series of awards such as Enterprise for Community Development in 2011 and Excellent Export Production Enterprise in 2011.

Along with the event of signing the exclusive distribution agreement for OTRAN with 6 trade representatives from 6 countries around the world, on August 5, VinaCommodities Joint Stock Company also introduced 2 new brands to consumers, ELIZA and CHICA.

According to (ktdt)-TN