Record prices animal feed in Vietnam
Dried soybeans and corn, two primary ingredients in animal feed, have posted record increases, according to the Vietnamese Ministry of Agriculture and Rural Development’s Breeding Department.
The nation annually imports 500-700,000 tonnes of corn
for animal feed at a total cost of US$135-185 million. By December 2007, the
price had increased by 80% for dried soybeans and by 23% for corn over the
beginning of 2007. The prices represented increased of 30-100% over
2006.
for animal feed at a total cost of US$135-185 million. By December 2007, the
price had increased by 80% for dried soybeans and by 23% for corn over the
beginning of 2007. The prices represented increased of 30-100% over
2006.
Viet Nam Feed Association Le Ba Lich said the animal feed industry
lacked the capacity to develop domestic raw material sources and support
industries. Domestic materials met only 68-70% of demand, with imports making up
the rest. Deputy Minister of Agriculture and Rural Development Vu Van Tam said
the state should permit foreign enterprises to invest directly in building raw
material production capacity. The nation also needed to set up a commodities
trading floor.
Join 26,000+ subscribers
Subscribe to our newsletter to stay updated about all the need-to-know content in the feed sector, three times a week.
