September 5, 2007

Vietnam 2007 soymeal imports forecast up 50 percent on-year
 

Vietnam's soymeal imports may rise by 50 percent on-year to 1.5 million tonnes in 2007, American Soybean Association Regional Director for South-east Asia John Lindblom said Wednesday (Sep 5).

Speaking on the sidelines of the fourth South-east Asia-US Agricultural Cooperators' Conference, Lindblom said the higher soymeal demand is mainly caused by an ongoing aquaculture boom in Vietnam.

"A new feed mill is practically coming up every month in Vietnam," he said.

According to data provided by the Vietnamese government, feed production in the country is expected to total 7.2 million tonnes this year, up from 6.6 million tonnes in 2006.

Lindblom said higher economic growth in Vietnam is also resulting in more consumption of poultry and pork, adding to feed demand.