Tongwei's Vice President predicts Chinese feed industry to continue with nil or negative growth

In view of the slowdown of China's economy, Tongwei's Vice President Wang Shangwen predicts that the Chinese feed industry will continue to experience nil or negative growth.

According to Wang, more than 5000 feed companies had closed down over the past 10 years. He cited from data released by the Feed Industry Association, indicating that there were 10,113 feed production companies in 2013, down by 745 companies over the same period year-on-year.

Among them, there are 2971 pre-mixed feed companies, down by 96 companies year-on-year; 1377 feed additives companies, down by 63 companies year-on-year; 1941 single feed companies, down by 73 companies year-on-year; 52 companies producing feed machinery, down by 11 companies year-on-year.

In a nut shell, he foresees that the slow economy will likely continue to have an adverse effect on farming, causing the competition in the feed industry to become increasingly brutal in the near future.