Friday, September 6, 2013

Bloomberg highlights Vietnam’s edible bird industry

The US news wire described edible nests in Vietnam as the “caviar of the East” with its wholesale price reaching up to $1,500/kilogram.

Bloomberg quote Tok Teng Sai, president of the Federation of Malaysian Bird’s Nest Merchants Association, as saying that the demand for bird’s nest, once reserved for emperors and their courts, has created a global market with annual revenue as high as $5 billion that caters to Asia’s growing wealthy consumers.
 Bloomberg highlights Vietnam’s edible bird spit industry
Vietnam is racing to catch up with Malaysia and Indonesia, the region’s top producers of the delicacy, and cash in on the demand, Tok said.

The paper reported that in Vietnam, demand for bird’s nest is spawning a cottage industry that has attracted investment from VinaCapital Group Ltd, the nation’s largest fund manager, and helping mint new millionaires. Provincial governments are also jumping in to set up bird’s nest production zones to spur jobs and exports.

In mid-2011, VinaCapital invested $7.5 million in a bird house in central Vietnam with about 100,000 birds, one of the nation’s largest, said Dang Pham Minh Loan, VinaCapital’s deputy managing director.

Vietnam’s bird’s nest industry, estimated to generate $200 million in revenue a year, is increasing as much as 25 percent annually, Loan said.

According to Bloomberg, authorities in Phan Rang-Thap Cham of central coastal Binh Thuan province are working on a plan to expand the local bird’s nest industry to 2.8 million birds by 2020. The largest bird’s nest house in the province now generates about $50,000 of bird’s nest monthly./.

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