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Vietnam Food and Drink Report Q4 2009
Business Monitor International, Sep 2009, Pages: 69
The Vietnam Food and Drink Report provides industry professionals and strategists, corporate analysts, food and drink associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Vietnam's food and drink industry.
Vietnam’s economic prospects appear to be improving and this seems to have had an effect on the country’s food and drink sector. Despite there having not been a large amount of industry activity in Q309, the activity that has taken place demonstrates that the country’s food and drink producers as well as its retailers remain committed to investing in Vietnam confident of the long-term outlook.
Vietnam’s mass grocery retail (MGR) sector witnessed a flurry of activity this quarter; Metro Cash and Carry opened its ninth wholesale centre in the country in July, Casino-owned Big C invested over VND300bn opening another supermarket while Vietnam’s leading retailer Saigon Co-op opened a further two convenience stores and confirmed plans to convert Tin Nghia Real Estate Company’s market in Bien Hoa Town into a supermarket at an estimated cost of VND20bn. With MGR sales in the country expected to increase 63.3% to reach VND5.8trn in 2013 retailers are keen to plough ahead with expansion plans in order to capitalise on this. However, retailers are operating under increasingly difficult conditions, with consumer confidence already low they have been unable to pass on the costs of the recent fuel price hike for fear of losing customers and therefore have had to absorb the additional costs. Other companies keen to invest further in the country include Nestlé and Anglo-Dutch consumer goods giant Unilever. The former announced that it would commit CHF13mn (VND217.7bn) to Nestlé Vietnam in 2009 while the latter bought out its local partner Vinachem in a bid to boost its presence in the country.
Moving to the drink sector, Vietnamese coffee giant Trung Nguyen Corporation announced this quarter that it is investing US$40mn on a new instant coffee plant aiming to produce coffee for both domestic consumption and for export markets. Vietnam is the world’s second largest coffee producer, however, industry growth to date has been dominated by exports; yet strong GDP growth is fuelling demand for aspirational food and beverage products and so it is expected that domestic consumption of the drink will increase. Staying with coffee news, this quarter saw Vinamilk launch its instant coffee. While the immediate economic outlook appears promising, global conditions are expected to remain weak in 2010 and this is likely to have a knock on effect on the country’s food and drink sectors.
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