October 29, 2012

Vietnam's Jan-Oct animal feed imports rise 8.6%

In the first ten months of 2012, Vietnam is estimated to have spent over US$2 billion on imports of animal feed and materials, an on-year increase of 8.6%.

This is according to the General Statistics Office (GSO).

In October, the country is likely to buy animal feed and raw materials worth US$265 million, compared to US$260 million in the previous month.

Argentina, India, the US, China and Brazil are the main suppliers of animal feed and materials for Vietnam, which spent US$2.33 billion on importing raw materials to produce animal feed in 2011, increasing by 7.2% from 2010.

Due to a 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 very high.