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

Vietnam’s animal feed imports (4 months of 2022)

Vietnam’s animal feed and raw materials imports in April 2022 declined due to lower demand in the domestic market.

Animal feed demand in Vietnam decreased because the animal feed price rose high, while meat consumption need was low. That makes farmers more cautious in re-herding.

According to data from the General Department of Customs, in April 2022, Vietnam’s animal feed and raw materials import turnover reached 393.7 million USD, down 9.8% over April 2021.

In the first 4 months of 2022, Vietnam’s animal feed and raw materials import turnover was 1.4 billion USD, down 12.8% over the same period in 2021.

In the first 4 months of 2022, there has been a shift in supply among Vietnam's animal feed and raw materials importing companies. Imports from Argentina, the largest animal feed importing market for Vietnam, decreased. Imports from Brazil increased sharply.

In April 2022, Vietnam’s animal feed and raw material import turnover from Argentina decreased by 24.3% compared to April 2021. In the first 4 months of 2022, Vietnam’s animal feed and raw materials import turnover reached 381.3 million USD, down 29.8% over the same period in 2021.

Brazil was Vietnam’s second-largest animal feed and raw materials supplier in April and the first 4 months of 2022. Vietnam’s animal feed and raw materials import turnover from Brazil in April 2022 was 82.46 million USD, down 5.6% over April 2021. In the first 4 months of 2022, Vietnam imported 295.76 million worth of animal feed and raw materials from Brazil, up 148.6% over the same period in 2021.

Imports from the US to Vietnam in April 2022 reached 35.78 million USD, down 21% compared to April 2021. In the first 4 months of 2022, Vietnam’s animal feed and raw materials import from the US was 182.2 million USD, down 43.3% over the same period in 2021.

Top 10 animal feed and raw materials importers in Vietnam (March 2022)

C.P. VIETNAM CORPORATION was Vietnam’s top animal feed and raw materials importer in March 2022, reaching a turnover of 71,197 thousand USD.

CARGILL VIETNAM COMPANY LIMITED and KHAI ANH BINH THUAN JOINT STOCK COMPANY followed in second and third place, reaching 27,744 thousand USD and 21,410 thousand USD in turnover, respectively.

Outlook

From the beginning of 2022 until now, Vietnam's animal feed industry has faced many difficulties when the price of raw materials and transportation costs increased sharply, while consumer demand slowed down due to the difficulty of the livestock industry.

With developments in the world market, the global price of raw materials for animal feed production will likely remain high in 2022, affecting the price of animal feed and domestic demand. Meanwhile, Vietnam's animal feed industry relies heavily on imported raw materials.

To stabilize input material prices, the Ministry of Industry and Trade has researched and suggested solutions such as:

• Working with businesses to have suitable solutions for both sellers and buyers. According to calculations, input materials account for 55% of the product cost, so if calculated carefully, it is possible to reduce the cost of raw materials.

• Continue to check and control the market, and stabilize commodity prices.

• Adjust taxes, especially value-added tax, tax refund, etc., so that essential items and supplies such as fertilizers can be reduced, easing difficulties for farmers.

In the long term, the research and utilization of domestic animal feed ingredients will support Vietnam's animal feed industry to be more proactive in production and business.

Source: The Ministry of Industry and Trade

Compiled by VietnamCredit