Material prices strike Vietnam’s animal feed groups

Supply shortages, with global uncertainties including the Russia-Ukraine clash escalating, are driving Vietnam’s animal feed production sector into bigger difficulties as a large part of raw materials are sourced from these two markets. Almost all the animal feed producers in Vietnam, including CJ Vina Agri, Cargill, and Japfa Comfeed Vietnam, have had to adjust the selling prices of feed products to offset the increasing momentum of imported materials. Statistics published by the Department of Livestock Production (LPD) showed that in the first two months of this year, imported soybean prices increased by 21% , raw corn 9%, soybean oil 22%, and fish paste 11%.