Ofood oil from animal feed: Revealing the business involved in the trillion-dollar line

The production and consumption of cooking oil from raw materials used in animal husbandry, with a scale of up to thousands of billions of VND, is causing public uproar. Notably, a business had to immediately speak up to correct the situation due to a misunderstanding of the product name.

Daesang Vietnam Co., Ltd. has affirmed that Ofood oil is not a product of their O'Food brand - Photo: VTV

On the evening of June 24, VTV published information about a case of large-scale production of fake cooking oil. The Ofood cooking oil brand of Nhat Minh Food Production and Import-Export Company Limited was widely sold on the market under the name of vitamin A supplemented cooking oil.

However, test results showed that the product did not contain any vitamins as advertised and more seriously, this was a type of vegetable oil that did not meet food safety standards and was only used to make animal feed.

A series of businesses related to the Ofood oil case, revenue of 8,200 billion VND

Up to now, in addition to Nhat Minh Food Production and Import-Export Company, there are also a number of related enterprises such as An Duong Trading and Service Company Limited.

An Hung Phuoc Import-Export Trading Company Limited, one of the largest vegetable oil importers in the country, was also discovered to be involved in consuming substandard oil.

Initial estimates of revenue in the past 3 years of related companies amounted to more than 8,200 billion VND.

According to data from the Hanoi Business Registration Office, Nhat Minh Food was established in November 2018 with the original name Nhat Minh Phuong Import Export Company Limited, headquartered in Nam Hong Commune, Dong Anh District, Hanoi City.

The charter capital when first established was 1.8 billion VND, including 3 founding members contributing capital: Dang Thi Phuong (50%), Nguyen Ha Dong (25%) and Ngo Thi Binh (25%).

In which, Dang Thi Phuong (born in 1987) is the director and legal representative of the enterprise.

By July 2021, the company changed its name to Nhat Minh Food Production and Import-Export Company Limited. The capital structure also changed at this time, with Dang Thi Phuong holding 60% of the capital and Nguyen Ha Dong holding 40%. Tax declaration information at this time showed that the company only had 5 employees.

In November 2022, the company changed its main business to producing animal and vegetable oils and fats. By May 2023, Nhat Minh Food had increased its charter capital from VND 1.8 billion to VND 8.8 billion but did not clearly disclose the capital contributors.

A business immediately "clarifies" because of brand similarity

According to a survey by Tuoi Tre Online , the websites of companies and stores that used to distribute Ofood brand cooking oil products are inaccessible. On domestic e-commerce platforms, many online stores have removed the products.

Before the incident was exposed, Ofood cooking oil was sold on many online shops and e-commerce platforms at a price of about 38,000 - 40,000 VND/liter.

Some dealers said that this oil is mainly used for industrial cooking, in restaurants and processing units, and is not very popular through retail channels.

Notably, the name "Ofood soybean oil" is similar to the brand "O'Food" of Daesang Vietnam Co., Ltd. - a company specializing in producing food originating from Korea.

Immediately after the incident was reported by the media, a representative of Daesang Vietnam issued a statement affirming that the product "Ofood Soybean Oil" is unrelated and completely not owned by O'Food, which is one of Daesang's official brands in the Vietnamese market.

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BINH KHANH

Source: https://tuoitre.vn/dau-ofood-tu-thuc-an-chan-nuoi-he-lo-doanh-nghiep-lien-quan-duong-day-ngan-ti-20250625214135725.htm