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December 28, 2011

 

Vietnam's 2011 animal feed prices soar 30%

 

 

The prices of Vietnam's animal feed products for 2011 have risen almost 30%, said the Ministry of Agriculture and Rural Development.

 

Prices of chicken feed brand Broiler rose 26.2% to VND10,302/kg (US$0.49) while feed for pig soared 31.7% to VND9,150 (US$0.44) per kilogramme, the ministry said.

 

High prices of imported materials, fuel and electricity as well as higher labor costs were attributed to the animal feed price hike, said the ministry.

 

In 2011, corn price increased 32.3% on-year to VND7,611/kg (US$0.36).

 

Prices of other substances used in animal feeds also increased between 9% and 36% from 2010.

 

Vietnam estimated it spends US$3.3 billion on importing 8.2 million tonnes of materials for animal feed production this year, rising 5% on value from last year.

 

The country imported 2.96 million tonnes of soybean products, 870,000 tonnes of corn, 570,000 tonnes of bran, 2.3 million tonnes of wheat, and other additive substance.

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