June 15, 2009
Vietnam animal feed prices likely to rise 20 percent
Domestic prices of animal feed are likely to rise by 15 percent to 20 percent in the coming months due to strong appreciation of US dollars against Vietnamese dong, an official of the Ministry of Agriculture and Rural Development (MARD) said.
Nguyen Xuan Duong, head of Husbandry Department under the MARD, said higher cost for importing input materials is also another reason for animal feed price increase.
Vietnam import 70 percent of animal feed for processing and its local cattle and poultry flock.
The country is predicted 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.
