October 18, 2024

Vietnam's animal feed, raw material exports down 10.5% in value in first seven months of 2024

In the first seven months of 2024, Vietnam exported nearly US$584.18 million worth of animal feed and raw materials, down 10.5% in value compared to the first seven months of 2023, according to preliminary statistics from the General Department of Customs.

In July 2024 alone, animal feed and raw material exports reached over US$90.65 million, up 4.7% compared to the previous month but down 30% compared to July 2023.

China is Vietnam's largest export market for animal feed and raw materials, accounting for 40.9% of the country's total export turnover. In the first seven months of 2024, animal feed and raw material exports to this market reached nearly US$239.15 million.

Next is the US market, with exports reaching over US$74.87 million, up 80.2%, accounting for 12.8%.

Vietnam's exports of animal feed and raw materials to the Southeast Asian market reached over US$175.76 million, accounting for 30% of the country's total export turnover of animal feed and raw materials.

Notably, exports to Bangladesh have been increasing sharply in recent months. In the first seven months of the year, exports of animal feed and raw materials to this market reached US$3.9 million, up 72.93% compared to 2023.

- Industry and Trade Newspaper