Coconut oil market of Vietnam
Vegetable Oil Industry Vietnam mainly use imported raw materials such as palm oil, soybean oil; domestic sources such as sesame oil, peanut oil, rice bran oil ...
The time consumption per capita vegetable oil 7 to 8 kg / person / year, consumption is still low compared to WHO recommendations (World Health Organization) is required to 13.5 kg / year (average consumption vegetable oil in the world in 2010 was 17 kg / person / year, while in the United States is 36 kg / person / year), in addition, people use cooking oil to replace animal fat growing up forecast consumption will rise in Vietnam market
Vietnam has about 35 businesses providing vegetable oil products on the domestic market, most of the businesses of Company Vegetable Oil Industry of Vietnam (Vocarimex), the brand known as TAC, Neptune, and Simply Mezan. Production of refined vegetable oil increased steadily each year. In 2011, production of refined vegetable oil types in Vietnam about 750 thousand tons, an increase of 7% over the previous year (PTT 3). According to the decision approving the planning sector development vegetable oil Vietnam in 2020, Vision 2025 of the Ministry of Industry and Trade, 2011-2015, Vietnam produced 1,138 thousand tons of refined oil, 268 thousand tons of oil and crude oil exported 50 thousand tons of all kinds.
Source material for vegetable oil industry Vietnam is largely based on imports. In 2011 imported 734 thousand tons of crude oil and refined oil types (Table 1). Crude oil imports palm oil from Indonesia, Malaysia, Cambodia and the United States; soybean oil from Argentina, Malaysia, Thailand, Brazil and South Korea. Imports a little canola oil, olive oil and sunflower oil. The majority of soybean oil and palm oil imports are used as food, few in industry and cosmetics.
Although not much, but since 2010, exports of vegetable oils Vietnam began to increase. There are no official statistics on exports of vegetable oils Vietnam, but according to data from Global Trade Atlas, in 2011, Vietnam exported over 35 thousand tons of oil types with about 45 million dollars worth