Vietnam's Feed, Raw Material Import Turnover Up 4% in November
This figure, the ministry said, helped push the total feed import value in the first 11 months of the year to $2 billion, a surge of $100 million against the same period last year.
Doan Trong Ly, director of the Animal Production Processing and ImportExport JSC, said that the figure excluded an additional 2 million tonnes of wheat and around 1 million tonnes of corn.
The Vietnam Feed Association attributed the increased export turnover to rising prices.
Association Chairman Le Ba Lich said that the price of raw materials used in feed production, of which the country still had to import 60 per cent, had increased significantly.
As a result, the price of domestic feed has remained high, he added.
Since the beginning of the year, Argentina, India and the United States have been the largest exporters to Vietnam.
Around 23.4 per cent of feed and raw materials came from Argentina while 21.6 per cent was imported from India and 10.5 per cent was sent from the United States.
As an agricultural country, Vietnam still imports large volumes of feed and raw materials for production, resulting in prices often up to 10-15 per cent higher than in other regional countries.
To increase the competitiveness of Vietnamese feed, Lich suggested the ministry limit cassava exports, which should be planted to instead serve domestic demand and only sent abroad to stabilise domestic prices.
(VNA)
