Việt Nam to spend US$1.7 billion on meat imports

Việt Nam's meat and byproducts imports are set to surge in 2024, with spending expected to reach about US$1.7 billion. In the first 11 months of 2024, Việt Nam spent nearly US$1.6 billion on importing meat and meat by-products, marking a 14.2 per cent increase year-on-year, according to the General Department of Customs. At the current rate, Việt Nam's spending on these imports is projected to exceed $1.7 billion by the end of this year. India remains the main supplier of meat and meat products, accounting for nearly 23 per cent of the country's total imports in this category. Over the first ten months, Việt Nam imported about 160,000 tonnes of meat from India, valued at $531.5 million, an increase of 13 per cent in volume and 28 per cent in value year-on-year. Việt Nam's meat imports from other markets have also grown year-on-year, including Australia, the US, Canada, Poland, South Korea, the Netherlands, Italy, Turkey, Japan, Belgium and France. Over the past 11 months, Việt Nam ...