In August 2022, Vietnam imported 573.32 million USD worth of animal feed and raw materials, up 24.4% over July 2022 and up 44.3% over July 2021.
In the first 8 months of 2022, Vietnam’s import turnover of animal feed and raw materials reached 3.65 billion USD, up 5.9% over the same period in 2021.
According to estimates, in September 2022, Vietnam's imports of animal feed and raw materials reached 500 million, down 12.8% compared to August 2022, but increased by 21.2% over the same period in 2021.
In the first 9 months of 2022, Vietnam's animal feed and raw materials imports were estimated at US$ 4.15 billion, up 10.8% over the same period in 2021.
Argentina was Vietnam’s largest animal feed and raw materials supplier. In August 2022, the import turnover of animal feed and raw materials of Vietnam from Argentina reached 182.04 million USD, up 12.4% over July 2022 and up 65.3% over August 2021.
In the first 8 months of 2022, animal feed and raw materials imported from Argentina reached 1.09 billion USD, up 9.5% over the same period in 2021.
Vietnam's animal feed and raw materials imports from Argentina in the first eight months of 2022 accounted for 29.9% of Vietnam's total imports of this item, down from 34.4% in the first 8 months of 2021.
Brazil is the second largest animal feed and raw materials supply market for Vietnam. In August 2022, the import turnover of Vietnam's animal feed and raw materials products from the Brazilian market reached USD 131.33 million, an increase of 114.3 % compared to July 2022 and an increase of 155.0% compared to August 2021.
In the first 8 months of 2022, the import turnover of this commodity from Brazil reached 766.74 million USD, up 96.0% over the same period in 2021. Vietnam's import of animal feed and raw materials products from Brazil in the first 8 months of the year 2022 accounted for 21.0% of Vietnam's total import turnover of this commodity, up from 11.7% in the first 8 months of 2021.
Vietnam's imports of animal feed and raw materials products from Brazil increasing sharply in the first 8 months of 2022 has largely contributed to the country's total import turnover of animal feed and raw materials.
In the first 8 months of 2022, Vietnam's imports of feed and energy products increased sharply in some markets, such as Brazil; Canada; UAE; Australia; Mexico, up 96.0%, 94.7%, 89.1%, 52.8%, and 34.0%, respectively.
In contrast, import turnover of feed & energy from some markets such as Malaysia; Shirt; Italia; Taiwan; Germany fell, with a decrease of 57.8%, respectively; 44.5%; 41.4%; 29.4%; 25.3%, respectively, compared to the first 8 months of 2021.
The Covid-19 pandemic has disrupted the global supply chain. Tensions between Russia and Ukraine are impacting the global food supply as Russia and Ukraine are the world's largest and fourth largest wheat suppliers, respectively. With that, many countries have the mentality of stockpiling food. The decrease in supply and the high cost of raw materials have influenced the price of food items to change. Feed & energy transactions are also affected by the above influences.
The livestock production situation of Vietnam in recent years has had good changes, leading to an increase in demand for feed and energy products. However, raw materials for animal feed production in Vietnam are still heavily dependent on foreign supplies.
(First 8 months of 2022)
C.P. Vietnam Corporation, Cargill Vietnam Company Limited, and Khai Anh Binh Thuan Joint Stock Company were Vietnam’s top 3 animal feed and raw materials importers in the first 8 months of 2022. C.P imported a total of 291,742 thousand USD worth of animal feed and raw materials, while Cargill and Khai Anh Binh Thuan imported 196,149 thousand USD and 173,143 thousand USD, respectively.
Source: The Ministry of Industry and Trade
Compiled by VietnamCredit
