Thailand: Next year's trend of raw materials will rise again pushing the price of livestock to a high level

Published 2022년 12월 20일

Tridge summary

Thailand relies heavily on imported animal feed ingredients, with 60% of them being imported due to fluctuating prices of key raw materials such as maize, wheat, and soybean meal. Factors like the situation in China, drought, climate change, and the war between Russia and Ukraine have led to a 25-30% increase in raw material prices in 2022, and a further 10% increase is expected in 2023. This has resulted in higher production costs for animal feed producers, potential quality issues with the feed, and a possibility of reduced animal growth or even a lack of feed. The Thai Feed Producers Association is calling for timely government action to improve internal factors such as import policies and duties, as well as production efficiency, to lessen the impact on farmers, livestock farmers, and consumers. The EU's ban on products involved in deforestation could also affect Thailand's livestock product exports, underscoring the need for sustainable cultivation of maize and other raw materials for Thailand to maintain its chicken meat export market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Thailand uses only 40% of domestic animal feed ingredients and 60% is imported from abroad, with important raw materials such as carbohydrates that provide energy such as maize, wheat or protein such as soybean meal. Soybean and DDGS, etc. The price level of these raw materials fluctuates. It depends on many factors both internally and externally. and outside the country In 2022, “external factors” that affect raw material prices There are several important factors, including the situation in China. which is the world's largest animal feed producer, recently recovering from COVID-19 Come back to buy grains from around the world in huge quantities again. while drought and climate change It is decreasing grain yields in major raw material growing countries. Both corn and soybeans Also the war between Russia and Ukraine. It is still an important obstacle in exporting cereals. Both countries are the world's major exporters of wheat. With a combined export of up to 1 in 3 of the world ...

Source: Pasusart