Supplement food market uncontrolled in VN, prices vary wildly
There are 10,930 functional food products available in the market
Le Thi Phuong, 34, in Tan Binh district, HCM City, was happy when an acquaintance of hers recommended a functional food product advertised as a ‘panacea’. She immediately went to the drugstore to buy a bottle of nanocalcium syrup.
The major elements of the syrup are calcium under nanomode, vitamin D and other vitamins that help improve children’s height and weight.
Phuong’s 2-year-old boy is taking a lot of functional food products daily, including Super Growth High, Grow Plus and Nubest Tall advertised as helping to increase height by 4-10 cm after a short time.
Phuong said that all these products are safe and good, because they are all imports and expensive.
In HCM City, functional foods are sold everywhere, from drugstores, traditional medicine shops, supermarkets to online shops. There are hundreds of products, from weight loss tea and herbal tea to nutrition powder, which are advertised to treat many kinds of diseases, from blood pressure to gout, diabetes and arthritis.
Ordering functional food products from personal websites, forums and social networks is favored by office workers. However, the prices quoted vary. On shopee.vn, a box of Glucosamine 1500 mg sourced from Japan quoted the price at VND489,000. Meanwhile, lazada.vn quotes VND799,000 and hangxachtaynhat VND1.2 million.
According to the Vietnam Functional Food Association, in 2000, there were 63 functional food products imported to Vietnam by 13 companies.
Now, there are 10,930 products available in the market, manufactured and distributed by 4,190 establishments. More than 90% drugstores throughout the country sell functional food.
A local newspaper reported that more than 90% of dietary supplement producers in Vietnam have not implemented Good Manufacturing Practices (GMP).
The lightening speed development of the functional food market has made it more difficult to control the market. The police recently discovered a series of counterfeit functional food product distribution and sales.
The counterfeiters had modern equipment to pack and label products to make them look just like genuine products.
According to Nguyen Cong San, deputy head of the Hanoi Market Management Sub-department, one of the tricks that traders use is to buy Chinese products at low prices and then label and sell them as imports from the US, Japan and Australia at prices much higher than the real value.
Related News
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Ensure policies to attract investment when implementing global minimum tax
10:33 | 02/04/2023 Finance
Increase competitiveness when export turnover comes from domestic enterprises
20:38 | 01/04/2023 Import-Export
Latest News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
More News
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Seafood enterprises propose to remove obstacles from exporting to the EU
10:34 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export