VietnamCredit
VietnamCredit About Us Cafe€redit Contact Us
Login Register
0
USD
GO TO CART
Check out

VN spends $1.5 billion for animal feed imports

Tuesday 30, 05 2017
Viet Nam had to spend more than US$1.5 billion to import animal feed and raw material in the first five months of this year, up 27.5 per cent compared with 2016, despite market difficulties for meat, especially pork.
VN spends $1.5 billion for animal feed imports

Viet Nam had to spend more than US$1.5 billion to import animal feed and raw material in the first five months of this year, up 27.5 per cent compared with 2016, despite market difficulties for meat, especially pork.

The information was released by the Ministry of Agriculture and Rural Development (MARD).

Viet Nam imported nearly 650,000 tonnes of soybeans worth $280 million in the first five months of this year, increasing by 8 per cent in volume and 19 per cent in value year-on-year.

Especially, corn imported from Thailand to Viet Nam in the first four months of this year increased sharply, up 48 times in volume and 4.5 times in value over the same period last year.

The largest import market for Viet Nam’s animal feed was Argentina, accounting 45 per cent of the market share, followed by the United States, India and China.

Recently, MARD’s Department of Animal Husbandry has submitted to MARD its plan to temporarily stop building new feed mills. 

According to the department, the animal feed industry has to promote internal resources, use feed more effectively, control diseases and reduce costs to compete with imported products. 

-Credit: VNS-

Categories:
Financial News

You may also like

Crypto vs. Cash: Why is cryptocurrency better?
Saturday 15, 02 2020

Crypto vs. Cash: Why is cryptocurrency better?

At one point, cryptocurrencies will replace fiat money. Crypto landings...
The 2020 monetary market becomes unpredictable and less positive
Thursday 13, 02 2020

The 2020 monetary market becomes unpredictable and less positive

The Securities and Analysis Center of SSI Securities Company (SSI Research)...
+84 37 99 44 511