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.

Tuesday, March 22, 2022 10:24

Over 9 bln USD spent on import of animal feed raw materials ảnh 1

Illustrative image (Photo: baodautu.vn)

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./

VNA

#raw materials #animal feed production #pig breeding #price #Vietnamplus #Vietnam news #Vietnam News Agency

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