May 31, 2013

In the first five months of 2013, Vietnam's import of livestock and chicken feed reached US$1.15 billion, an increase of 40.6% over the same period last year, according to ther Ministry of Agriculture and Rural Development.

In May alone, Vietnam imported 236,000 tonnes. The main sources are India with nearly 25%, the US with 18.42% and Argentina with 14%.

Despite high imports, the retail price escalated by VND1,500 (US$0.07) a kilogramme while the price of pork and chicken fell by 40-50% over the last one year. The Ministry of Agriculture and Rural Development and the Ministry of Finance said that they would launch an inspection over cattle feed prices as soon as possible.

The Livestock Department under the Ministry of Agriculture and Rural Development is proposing to the Government to remove the 5% value added tax imposed on cattle and chicken feed, which has indirectly affected farmers.