Vietnam: Domestic chicken surplus, imported chicken is still high

Market research company Ipsos Vietnam has just announced an assessment of the meat consumption and livestock market in Vietnam. In the chicken production segment, Ipsos Vietnam assessed that although chicken meat consumption is forecasted to continue to grow rapidly, it is difficult for chicken production to increase suddenly because the market is fiercely competitive by imported sources and associated with high demand. followed by a series of challenges. According to data compiled by Ipsos Vietnam, in 2022 alone, the value of imported chicken meat has reached $237 million to import about 178,000 tons of chicken, despite the already surplus domestic supply. In the opposite direction, only 1,000 tons were exported with a total value of 2.2 million USD. Thus, the export price of chicken is about 2.2 USD/kg, the average imported chicken meat is only 1.33 USD/kg. While chicken farmers are looking for solutions to lower costs to compete with cheap imports, the cost of raising chickens ...