Vietnam: The price of imported feed ingredients has increased sharply

Published 2022년 5월 13일

Tridge summary

In April 2022, Vietnam witnessed stable high prices for some feed ingredients, influenced by the global raw material market, especially the impact of the Russia-Ukraine conflict. Notably, the prices for rice bran and corn flour in different regions remained high. The cost of imported corn at Cai Lan port significantly increased, leading to a challenge for animal feed factories amidst stagnant output prices for pork and chicken. Meanwhile, Vietnam's import dynamics saw a decrease in volume but an increase in value for soybeans and corn from the first four months of 2021, with the majority of imports coming from Brazil, the US, Canada, Argentina, India, and Brazil for soybeans and corn, respectively. Additionally, the Chicago Futures Exchange experienced a surge in corn and soybean prices in April 2022, hitting a 10-year high for corn due to adverse weather and export disruptions from the Ukraine war.

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

Original content

According to the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development), in April 2022, prices of some feed ingredients remained stable at a high level since the end of last month due to the influence of the raw material market. World animal feed increased sharply in the context of war between Russia - Ukraine. Specifically, the products include: rice bran in Binh Phuoc and Hanoi, respectively, at 8,000 VND/kg and 8,600 VND/kg; corn flour in Hanoi kept the price of 9,200 dong/kg, while in Binh Phuoc kept the price at 10,200 dong/kg; Grain corn in Hanoi is 8,700 VND/kg, in Binh Phuoc is 10,000 VND/kg. The increase in world animal feed prices has immediately affected the domestic market of imported feed ingredients. At the beginning of April 2022, the price of imported corn at Cai Lan port increased by 200 VND/kg, to about 9,200-9,500 VND/kg for goods delivered in May, June, and July. This is a higher price from 20-25. ...

Source: Vinanet