August 28, 2012

Vietnam's animal feed expenditure down 6.9% for first eight months of 2012

Vietnam's expenditure on animal feed and material imports is estimated at US$1.466 billion in the first eight months of 2012, an on-year decline of 6.9%.

In August, the country bought animal feed and raw materials worth US$180, compared to US$219 million in the previous month.

Last year, Vietnam imported US$2.33 billion of raw materials to produce animal feed, increasing by 7.2% from 2010.

Due to heavy reliance on imported materials, prices of Vietnamese animal feed are around 20% higher than those in the region, making local production costs of meat and meat products costly.