October 24, 2009

Vietnam may regulate animal feed prices

The government of Vietnam is considering its animal feed prices to be regulated following a recent price hike by 10 to 15 percent.

The price increases has pressured the local feed industry, according to Le Ba Lich, chairman of the Vietnam Feed Association, adding that the country still lacks feed production despite it being an agricultural country.

According to Lich, prices of animal feed in Vietnam are higher, because more than 50 percent of materials used to produce feed animal are imported and the country has faced material shortage.

Foreign companies hence have been able to maintain high prices due to a lack of domestic competition.