May 5, 2009

Prices of 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) estimated.

 

MARD said in India, the biggest supplier of dried soy 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 soy in India has been US$20 per tonne higher than price in other markets.

 

Meanwhile, Argentina, the second supplier of dried soy for Vietnam, has imposed 25 percent tax on the product, raising the product price from US$370 per tonne to US$430 per tonne.

 

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

 

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

 

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