Animal feed exports poised to hit 1 billion USD mark

Hanoi (VNS/VNA) - 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.

The country’s livestock feed exports in December 2020 grew very robustly, reaching 80 million USD, up to 55 percent month-on-month and 10 percent year-on-year, statistics from the General Department of Customs showed.

This sharp increase in December was fueled by a high growth rate in three leading markets of China, Cambodia, and the US at 84 percent, 66 percent and 69 percent, respectively.

Thanks to such a significant growth seen in December, the country’s animal feed export turnover in 2020 reached over 800 million USD, up 17 percent compared to 2019 with China, Cambodia and the US being the three largest consumption markets, accounting for over 10 percent of the nation’s total export value.

Last year, Vietnamese exports of animal feed to China in 2020 topped 211.23 million USD, a yearly increase of 16 percent, and making up for 26.4 percent of the total turnover while the figure to Cambodia hit 122.3 million USD, increasing 23 percent year-on-year or equivalent to 15.3 percent of the proportion.

Meanwhile, exports to the US reached 114.5 million USD, up 125 percent compared to 2019, accounting for 14.3 percent of the proportion. This impressive growth rate demonstrated that Vietnamese animal feed could penetrate more and more into tough markets. 

According to the Ministry of Industry and Trade, the country's turnover in exports of such products to key markets increased in 2020 compared to the previous year.

However, turnovers of many small markets were still declining such as Japan with 26.2 million USD, down 27 percent year-on-year; The Republic of Korea with 19 million USD, down 18.5 percent and Indonesia with 11 million USD, down 33 percent.

Vietnam is now home to 265 animal feed production businesses, of which 180 were domestically run. Although domestic enterprises outperformed in terms of quantity, foreign firms still led the way in terms of capacity and market share./.