MARD Forecasts Animal Feed Price to Soar

Pricesof animal feed are likely to rise sharply in Vietnam’s market as animal feed import price has kept soaring in the past time, the Ministry of Agriculture and Rural Development (MARD) forecast.

 

The MARD said in India, the biggest supplier of dried soybean for Vietnam, the high price of alive poultry encouraged the country to reduce export of animal feed for local market. Since March, price of dried soybean in India has been US$20/ton higher than price in other markets.

 

Meanwhile, Argentina, the second supplier of dried soybean for Vietnam, has imposed 25 per cent tax on the product, raising the product price from US$370/ton to US$430/ton.

 

The MARD said price of animal feed in Vietnam will soar if poultry price in India continues soaring.

 

Vietnam import 70 per cent of animal feed for processing and its local cattle and poultry flock.

 

The country is predict to import around 2.55 million tons of powdered soybean in the 2008/2009 crop, up from 2.4 million tons in 2007/2008 crop; 80,000 tons of soybean cakes, up from 75,000 tons; and 120,000 tons of soybean, up from 110,000 tons on year.

 

Meanwhile, prices of paddy, pork and other food have also increased, worrying local farmers. (Vietnam & World Economy)