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86 million
.
It is worth noting that the value of South Korea's exports to Vietnamese milk powder has increased 1.
6 times in the past six years, from 7.
58 million US dollars in 2016 to 19.
54 million US dollars in 2021.
In the first 11 months of 2022, South Korea's exports of milk powder to Vietnam reached 15.
85 million US dollars.
In the first 11 months of 2022, South Korea's milk powder exports to China reached US$67.
28 million, well below the US$104.
9 million level
in 2016.
28 million, well below the US$104.
9 million level
in 2016.
Seoul Economic reported, citing an industry official, that Vietnam has an average annual number of 2.
5 times as many births as South Korea, so the demand for milk powder is also very large
.
The Chinese market is large, but there are many potential risks, so the Korean milk powder industry has shifted its market to Vietnamese customers
.
5 times as many births as South Korea, so the demand for milk powder is also very large
.
The Chinese market is large, but there are many potential risks, so the Korean milk powder industry has shifted its market to Vietnamese customers
.
Thanks to a number of promotion activities by Korean milk powder companies, the proportion of infant formula exports to Vietnam in South Korea's total milk powder exports has soared from 6.
2% in 2016 to 17%
in 2022.
It is expected that in 2023, South Korea's exports of milk powder to Vietnam will exceed 20 million US dollars
for the first time.
(End)
2% in 2016 to 17%
in 2022.
It is expected that in 2023, South Korea's exports of milk powder to Vietnam will exceed 20 million US dollars
for the first time.
(End)
