March 13, 2023
Value of Vietnam's chicken meat imports hit US$237 million in 2022
The value of Vietnam's imported chicken meat reached US$237 million with about 178,000 tonnes last year.
The market research company Ipsos published a report assessing the meat consumption and livestock market in Vietnam on March 8. The report showed that chicken has been consumed more in recent years, with 17.8kg per person in 2021 and 18.3kg last year.
As Vietnam signed free trade agreements, imported meat has been eliminated from tariffs, leading to fierce competition as imported chicken prices have always remained low.
The country only exported 1,000 tonnes, with a total value of US$2.2 million.
While chicken farmers are looking for solutions to lower costs to compete with cheap imports, bran prices increased six times within half a year.
According to calculations and analysis by Ipsos, it is not until the second quarter or the third quarter of this year that bran prices in Vietnam have begun stabilising and decreasing following the general global trend.
Another important factor is the decline in the land fund for livestock in the country. The Law on Livestock 2018 regulated that livestock production would no longer be allowed in the inner city, which has affected the livestock land fund.
In addition, due to the recent increase in housing prices, many households choose to sell their land or stop raising livestock to make a profit.
A representative of the Dong Nai Animal Husbandry Association said that the total chicken population of Vietnam, including white-feathered chickens, coloured chickens and egg-laying hens, was 498 million in 2020. This number is forecast to rise to about 555 million this year.
For pig production, Ipsos Vietnam forecasts that consumer demand has not recovered compared to the period before the 2018 African swine fever outbreak.
Pork is losing its position as the number one choice in the animal protein category.