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Vietnam’s top 10 animal feed importers (10 months 2022)

Vietnam’s top 10 animal feed importers (10 months 2022)

Friday 16, 12 2022
C.P. Vietnam Corporation, Khai Anh Binh Thuan Joint Stock Company, and Cargill Vietnam Company Limited were Vietnam’s top 3 animal feed and raw materials importers in the first 10 months of 2022.

The animal feed market in 2022

According to the Food and Agriculture Organization of the United Nations (FAO), the demand for food commodities will increase by 60% by 2050, of which the demand for animal protein will increase by 1.7% per year. The output of meat, seafood, and dairy products is also expected to increase. The increasing demand for meat, contributing to the development of the market, has a positive impact on the growth of the livestock market, leading to the production and trading of animal feed.

Vietnamcredit Food and Agriculture Organization of the United Nations

The size of the global animal feed market will reach 482.1 billion USD in 2021 and is expected to reach 589.4 billion USD by 2027, with a CAGR of 3.5% during 2022 -2027, according to IMARC.

As a country with abundant raw materials, Vietnam has great potential for developing animal feed activities. According to statistics, the total demand for refined feed for the whole livestock industry in Vietnam is about 33 million tons per year. However, domestic supply is only about 13 million tons/year, accounting for 35%. Therefore, Vietnam has to import up to 65% from the external market.

Specifically, Vietnam imports an average of 20-22 million tons of animal feed ingredients a year, including materials used for aquatic products. According to preliminary statistics of the General Department of Customs, in the first 11 months of 2022, the import turnover of animal feed and raw materials reached over 5 billion USD, up 11.5% over the same period in 2021.

Because of its dependence on imports, recent fluctuations in the international market have been reflected in the overall picture of Vietnam's animal feed industry.

Vietnam’s animal feed imports in the first 10 months of 2022

According to the General Department of Customs statistics, Vietnam's feed and raw materials imports in October 2022 reached 402.1 million USD, down 2.3% compared to September 2022 and up 3.0% over October 2021.

In the first 10 months of 2022, Vietnam's import turnover of feed and raw materials reached 4.5 billion USD, up 9% over the same period in 2021.

Imports of feed and raw materials to Vietnam in 2022 are estimated at nearly 10 million tons, worth 5.4 billion USD, down 4% in volume but up 8% in value compared to 2021.

In the first 10 months of 2022, the volume and turnover of Vietnam's feed and raw materials imports from some primary markets decreased compared to the same period in 2021, such as Argentina, the US, etc.

Argentina was the largest feed and raw materials supply market for Vietnam in 10 months of 2022, reaching 1.34 billion USD, down 7.3% over the same period in 2021 and accounting for 29.7% of Vietnam's total import turnover of feed and raw materials, down from 35% in the same period in 2021.

In October 2022, the import turnover of feed and raw materials from this market reached 86.4 million USD, down 31.9% compared to the previous month and down 50% compared to October 2021. It is estimated that the import turnover of feed and raw materials from the Argentine market in 2022 will reach 1.55 billion USD, down 6.6% compared to 2021.

Vietnamcredit import turnover

Brazil was the second largest feed and raw materials supplier to Vietnam in 10 months of 2022, reaching 924.6 million USD, up 90.6% over the same period in 2021 and accounting for 20.4% of Vietnam's import proportion of feed and raw materials, up from 11.7% in the same period in 2021.

Import turnover of feed and raw materials in the 10 months of 2022 from some markets increased sharply compared to the same period in 2021. Imports from Hungary reached 322.6 million USD, up 28% and accounting for 7.1% of the import proportion; from China reached 213.5 million USD, up 13% and accounting for 4.7% share; from Indonesia reached 125.6 million USD, up 22.5% and accounting for 2.9% of the import.

In contrast, the import turnover of feed and raw materials from some markets in the first 10 months of 2022 decreased sharply compared to the same period in 2021, such as the US reaching 580.8 million USD, down 16.2% and accounting for 12.9% of the import proportion. Taiwan’s market reached 48.9 million USD, down 33.6% and accounting for 1.1% proportion; Malaysia reached 29.4 million USD, down 52.6% and accounting for 0.7% of the import proportion.

Vietnam’s top 10 animal feed importers

(First 10 months 2022)

C.P. Vietnam CorporationKhai Anh Binh Thuan Joint Stock Company, and Cargill Vietnam Company Limited were Vietnam’s top 3 animal feed and raw materials importers in the first 10 months of 2022. C.P Vietnam Corporation imported a total of 358,197 thousand USD worth of animal feed and raw materials, while Khai Anh Binh Thuan and Cargill imported 254,984 thousand USD and 225,341 thousand USD, respectively.

Vietnam top 10 animal feed

 

Source: The Ministry of Industry and Trade

Compiled by VietnamCredit

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