Vietnam is the second largest source of fishmeal for China and then imports it for animal feed processing

As a country with a developed livestock industry, every year, Vietnam still has to spend a large amount of foreign currency to import raw materials for animal feed. Not only depends on foreign countries for raw materials, some raw materials such as blood meal, meat and bone meal, and microbial products can be produced domestically, but the output and quality are still low, not meeting the demand. manufacture. "That's why we export fishmeal to China and then import fishmeal for animal feed processing," an expert in the livestock industry once said at a conference. This can be seen very clearly in the statistics of Customs. In 2022, Vietnam imported 129,000 tons of fishmeal, the average import price of fishmeal in 2022 was at $1,525/ton, an increase of 18.4% compared to 2021. But now, Vietnam is also the second largest source of fishmeal to China with the value of Vietnam's fishmeal exports to China in 2022 reaching 287 million USD, accounting for 9.6% market share. The Vietnam ...