Vietnam spends 1.5 billion USD for animal feed imports

Viet Nam had to spend more than 1.5 billion USD to import animal feed and raw material in the first five months of this year, up 27.5 per cent compared with 2016, despite market difficulties for meat, especially pork.
The information was released by the Ministry of Agriculture and Rural Development (MARD).
Viet Nam imported nearly 650,000 tonnes of soybeans worth $280 million in the first five months of this year, increasing by 8 per cent in volume and 19 per cent in value year-on-year.
Especially, corn imported from Thailand to Viet Nam in the first four months of this year increased sharply, up 48 times in volume and 4.5 times in value over the same period last year.
From January to May, Vietnam’s animal feed imports saw a year-on-year increase of 27.5 percent to more than 1.5 billion U.S. dollars. China was the fourth largest animal feed supplier to Vietnam, representing 4.2 percent of the market share of the item, after Argentina, the United States and India.
The largest import market for Viet Nam’s animal feed was Argentina, accounting 45 per cent of the market share. At the same time, Vietnam imported 508 million U.S. dollars worth of seafood, up 28 percent, mainly from India and China, with 25.7 percent and 9.1 percent of the market share, respectively.
Recently, MARD’s Department of Animal Husbandry has submitted to MARD its plan to temporarily stop building new feed mills. According to the department, the animal feed industry has to promote internal resources, use feed more effectively, control diseases and reduce costs to compete with imported products.
Source: Vietnam netz