Vietnam spends over $2B on animal feed, material imports in 5 months
In this article (5)
Vietnam spent US$2.04 billion to import animal feed and raw materials for the production of this kind of commodity in the first five months of this year, according to the Ministry of Agriculture and Rural Development (MARD).
The figure marks a year-on-year decrease of 2%.
Animal feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market shares, followed by India (18.3%) and the U.S. (15.2%).
Compared to the same period last year, the imports from the three countries increased by 3.9%, 130%, and 28.3%, respectively.
MARD recommends that to reduce reliance on imported animal feed, farmers in localities should make use of available domestic raw materials, produce animal feed by themselves to reduce cost, and find sources of raw materials for animal feed production.
Ministries and agencies were asked to tighten control over the import of meat and by-products, support importers to reduce the costs of products, as well as create favorable conditions for the development of material zones for animal feed production.
Questions & Answers
Q.What was the total value of animal feed and raw material imports for Vietnam in the first five months of this year?
What was the total value of animal feed and raw material imports for Vietnam in the first five months of this year?
Vietnam spent US$2.04 billion on these imports. This figure represents a 2% decrease compared to the same period last year, according to the Ministry of Agriculture and Rural Development.
Q.Which countries were the top three suppliers of animal feed and raw materials to Vietnam during this period?
Which countries were the top three suppliers of animal feed and raw materials to Vietnam during this period?
Argentina was the largest supplier, accounting for 25.8% of total market shares. India followed with 18.3%, and the U.S. Was third with 15.2% of the market.
Q.What recommendations has MARD made to reduce Vietnam's reliance on imported animal feed?
What recommendations has MARD made to reduce Vietnam's reliance on imported animal feed?
MARD recommends farmers use domestic raw materials and produce their own feed to cut costs. They also suggest finding local sources for animal feed production.
Q.How have import volumes from the top three supplier countries changed compared to the previous year?
How have import volumes from the top three supplier countries changed compared to the previous year?
Imports from Argentina increased by 3.9%, while those from India saw a significant rise of 130%. Imports from the U.S. Grew by 28.3% over the same period last year.
Reader pulse
Will Vietnam reduce its reliance on imported feed?
16,247 votes so far