November 6, 2012

Vietnam's animal feed prices rise despite falling material prices

According to Vietnam News Agency, prices of material used in animal feed processing decreased by 2.3-8.2% in the global market.

Accordingly, prices of soy meal dropped by 8.2% from September to VND14,175 (US$0.68) per kilogramme, price of corn decreased by 7.1% to VND6,825 (US$0.33) a kilogramme while rice bran is offered at VND7,140 (US$0.34) per kilogramme, down 5.6%.

Prices of cassava slices and fish powder fell by 5.3% and 2.3% respectively to VND5,670 (US$0.27) and VND22,050 (US$1.06) per kilogramme. However, prices of additives rose as lysine is sold at VND53,000 (US$2.55) per kilogramme, up 7.4% while Methionine is offered at VND97,500 (US$4.69) a kilogramme, up 0.9%.

Relying heavily on materials imports, animal feed in Vietnam is sold at 20% higher than those in other countries in the region. The country spends around US$3 billion every year to import materials, including soy, corn, wheat, fish powder and additives.