Animal Feed Prices in Vietnam Predicted to Rise 20 per cent

Domestic prices of animal feed are likely to rise by 15 per cent-20 per cent in the coming months due to strong appreciation of U.S. dollars against Vietnamese dong, an official of the Ministry of Agriculture and Rural Development (MARD) said.

 

Higher cost for importing input materials is also another reason for animal feed price increase, Nguyen Xuan Duong, head of Husbandry Department under the MARD, said.

 

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. (Vietnam Economic Times)