December 9, 2008
The chairman of the Vietnam Animal Feed Association, Le Ba Lich, said the prices of almost all kinds of animal feeds will decrease by 30 percent to 35 percent in the coming months.
Lich said the price decrease is due to the closure of 40 animal feed manufacturers which are facing bankruptcy.
He said animal feed prices have dropped by 20 percent during the past months, from VND9,000 to VND10,000/kilogram in June 2008 to VND7,000 to VND8,000/kilogram.
The chairman said local companies have 200,000 tonnes to 230,000 tonnes of animal feeds in stocks, including 12,000 tonnes of cassava, 80,000 tonnes of soy and more than 100,000 tonnes of cassava slices.
Vietnam was estimated to import US$1.641 billion worth of animal feeds and animal feed materials in the first eleven months of 2008, up 58.6 percent against the same period of last year.
US$1 = VND16,951 (Dec 9, 2008)