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Vietnam’s animal feed imports expect to increase in 2022

Vietnam’s animal feed imports expect to increase in 2022

Wednesday 16, 02 2022
Vietnam’s animal feed and raw materials imports in 2021 were affected by the COVID-19, which led to only a slight increase in quantity but experienced a significant increase in import value due to high animal feed prices. Imports of animal feed and raw materials are expected to increase in 2022.

Vietnam’s animal feed and raw materials import in 2021

Vietnam’s livestock industry was among the most impacted industries by the COVID-19 in 2021. The breakout of COVID-19 affected food consumption demand at industrial kitchens, schools, restaurants, and hotels, which in turn caused heavy losses to farmers. That creates difficulties for animal feed dealers and manufacturers.

In addition, companies operating in the animal feed industry are facing difficulties due to the impact of transportation activities, which causes increased transportation costs, increased input material prices, and increased feed production costs. Therefore, the import demand for feed and energy in 2021 only increased slightly in volume, while the import value increased sharply.

Data from the General Department of Customs, animal feed and raw materials import to Vietnam in 2021 reached 10.43 million tons, worth 4.93 billion USD, up 2.7% in quantity and 28.4% in turnover compared to 2020.

General Department of Customs

In 2021, Vietnam’s animal feed and raw materials imports from several markets increased sharply compared to 2020. Some of those markets are the US, Brazil, India, Indonesia, Malaysia, Korea, etc.

Argentina was Vietnam’s biggest animal feed and raw materials supplier in 2021. Imports from this market were 3.28 million tons, equivalent to 1.66 billion USD, down 19.5% in quantity and up 7.8% in turnover compared to 2020. Imports of animal feed and raw materials from Argentina accounted for 16.7% in quantity and 33.6% in turnover in the overall animal feed and raw materials export turnover of Vietnam.

The US was Vietnam’s second-biggest animal feed and raw materials supplier. Vietnam imported 1.87 million tons of animal feed and raw materials from this market, equivalent to a turnover of 817.6 million USD, up 23.9% in quantity and 61.7% in turnover over 2020. Imports from the US account for 16.7% in quantity and 33.6% in turnover in Vietnam’s overall animal feed and raw materials export turnover.

Vietnam’s imports of animal feed and raw materials from some markets plummeted in 2021. In particular, imports from Thailand were 41.2 thousand tons, Taiwan 89 thousand tons, Peru 30.2 thousand tons, etc.

Increased imports in 2022

In 2022, Vietnam's feed and energy imports are forecasted to continue to increase compared to 2021, reaching 11 million tons, worth over 5 billion USD, up 5.8% in volume, and about 2% in turnover. Import prices of feed and energy are likely to be more stable than in 2021. Imports of feed and energy continue to increase due to increased consumer demand for the livestock and aquaculture industries.

Vietnam's feed and energy imports

According to the development orientation of the Ministry of Agriculture and Rural Development, in 2022, the production value of the livestock industry will increase by about 5.5-6%; the equivalent output of industrial animal feed will reach 22.5 million tons.

Meanwhile, the results of the Vietnam Assessment Report Joint Stock Company survey for experts and companies in the animal feed industry about the demand for some animal feed products in 2022 show that there is an upward trend in demand for seafood, pigs, and poultry. Seafood is the segment that is expected to see the strongest growth.

Vietnam's livestock industry is considered to have many development prospects in the medium and long term. According to the forecast of the Vietnam Poultry Association, the demand for raw materials for animal feed in Vietnam will be about 28-30 million tons/year in the next five years, worth 12-13 billion USD with an average growth of 11-12%/year; of which more than half of the output of feed ingredients will be for the poultry industry.

Top 10 Vietnam’s animal feed and raw materials importers in 2021

Top 10 Vietnam animal feed

 

Source: The Ministry of Industry and Trade

Compiled by VietnamCredit

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