Vietnam Spends US$64Mln on Animal Feed Imports in First Two Months
Vietnam is estimated to have spent US$64 million importing animal feed in the first two months of this year, down 22.8 per cent against the same period last year, according to the Government Statistics Office.
In February alone, total expenditure for animal feed imports was nearly USUS$30 million, representing a decrease of 11.7 per cent compared to February last year.
Vietnam annually uses up around nine million tons of feed, 80 per cent for pigs, 18 per cent for poultry, and the remainder for cattle.
Of the volume, local animal feed factories are able to supply 4.6 million tons at most, fulfilling only 40 per cent of the total demand, forcing the domestic animal feed production sector to heavily rely on imports.
Sixty per cent of the raw materials are annually imported for domestic feed production, making Vietnam's animal feed prices 20-25 per cent higher than that of neighboring countries.
Last year, Vietnam spent almost USUS$597 million importing animal feed.
T.V
Vietnamese
