Deep-Dive: Ultrajaya Milk (ULTJ IJ)

Deep-dive: Ultrajaya Milk

Ultrajaya Milk (ULTJ IJ) is the leading dairy company in Indonesia. Its most popular product “Ultra Milk” has a market share of roughly 40% and dominates the mass market.

The company focuses on “UHT milk”. Such milk has been treated with ultra-high temperatures and stored in aseptic packaging, giving it a shelf life of 6-9 months at normal room temperatures. This makes UHT milk highly convenient. Especially in Indonesia given that the climate is tropical and the cold chain infrastructure is undeveloped.