Over 9 bln USD spent on import of animal feed raw materials
Vietnam spent 9.07 billion USD to import nearly 22.3 million tonnes of raw materials for animal feed production in 2021, according to the Ministry of Agriculture and Rural Development (MARD)’s Department of Livestock.
Hanoi (VNA) - Vietnam spent 9.07 billion USD to import nearly 22.3 million tonnes of raw materials for animal feed production in 2021,according to the Ministry of Agriculture and Rural Development (MARD)’s Department of Livestock.
The department also reported at a conference to discuss solutions to promoting pig breeding andstrengthening the management of animal feedproduction and businessheld by the MARD on March 18 in Hanoi that due to theimpact of the COVID-19 pandemic and especially the recent Russia-Ukraineconflict, the prices of many raw materials for animal feed production have increased strongly.
Notably, the price has increased by about 29.3 percent forcorn, 33.4 percent for soybean oil, 23.1 percent for cornmeal, and 49.5percent for wheat.
The department forecast that the prices of raw materials will remain high to the end of this year.
Tong Xuan Chinh, vice director of the department, said Vietnam currently produces only 35 percent ofanimal feed, and the rest depends on imports, he added.
So far, Vietnam’s livestock sector has made up 25.2 percent ofGDP of the agricultural sector. More and more Vietnamese and foreign enterpriseshave invested in the development of animal husbandry production andfood processing chains, including Masan, Dabaco, Tan Long, Truong Hai, HoaPhat, CP, Deheus and Japfacomfeed./
The animal feed industry of Vietnam, despite being among the world’s fastest-growing by scale and output, is dominated by foreign firms while local producers are struggling to compete.
The animal feed industry, which is growing at 10-15 percent annually, is highly attractive to foreign investors, who are steadily expanding their production.
Vietnam, for the first time in decades, has signed a contract with India to buy 70,000 tonnes of 100-percent broken rice from India to meet increasing demand of this kind of rice in the domestic market for producing animal feed.
Vietnam’s animal feed exports would likely touch the 1 billion USD mark in the near future as many large-scale enterprises in the field have continued to expand their production, trade experts have predicted.
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Illustrative image (Photo: baodautu.vn) 
