Bibica first-ever exports mooncakes to US

"The US market requires food management and hygiene standards with severity. Our products have been exported to the US several times but first-ever mooncakes can break into this market. Mooncakes with lotus seed stuffing, green bean stuffing and Indian taro stuffing are destined for the US." said Bibica Sale Manager Phan Van Thien.

Since the beginning of 2005, Bibica products has aimed at foreign markets such as the US, Southeast Asian countries and China with its export turnover of US$500,000 to, rose by 30% over the same period of 2004. The company achieved in the first half of 2005 its turnover of 121 billion VND, an increase of 10% compared with the corresponding period last year. Its after-tax profit hit approx. 3.7 billion VND, up 50% against the same period. At present, Bibica plans to hit the goal of supplying 200 tons of mooncakes to the domestic market in Mid-Autumn Festival of this year. The figure will increase by 50% over the same period last year. Especially, Bibica will launch some new kinds of high-class mooncakes with ginseng and fungus stuffing at very low sugar content in 2005 for meeting demands of dietary customers. In 2005, the price of Bibica’s mooncakes will be 10-15% higher than that of last year due to high cost raw materials. Accordingly, the price of high-class mooncakes will be double than that of other mooncakes.