The reason why does the US say Vietnam is a powerhouse importing corn

Published 2021년 10월 21일

Tridge summary

Vietnam has seen a significant increase in the import of corn and animal feed ingredients, with a surge of 24.3% in quantity and 47.4% in value in the first eight months of 2021 compared to the same period in 2020, due to the rapid growth in the meat industry. The average price of these ingredients has also risen by 16-46% due to supply shortages and Covid-19 transportation challenges. Despite being a major corn producer, Vietnam has relied heavily on imports and is projected to continue doing so, with corn making up the majority of these imports. The country's livestock industry has seen impressive growth, becoming the first in Southeast Asia in terms of industrial animal feed production, but it still depends heavily on imported raw materials. The Ministry of Agriculture and Rural Development is planning to reduce this dependence by expanding the area for grasses and forage crops, and by encouraging the rearing of buffaloes, cows, goats, and rabbits in association with the cultivation and processing of grass and by-products.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the US Department of Agriculture (USDA), over the years, Vietnam has increased imports of corn as a feed ingredient to serve the meat industry, which has grown rapidly in recent years. The report of the Ministry of Agriculture and Rural Development shows that, in the first eight months of 2021, Vietnam imported about 14.45 million tons of animal feed ingredients, worth $5.22 billion, up 24.3% in quantity and 47.4 % in value over the same period in 2020. In which, Vietnam imported the most energy-rich animal feed with the volume of up to 8.97 million tons, equivalent to 2.35 billion USD, up 49.4% in quantity and 89.5% in value. compared to the same period in 2020. In addition, Vietnam also imported 5.09 million tons of protein-rich feed, reaching 5.09 million tons, equivalent to 2.27 billion USD, down 2.6% in quantity but up 28% in value. Due to scarce supply, difficult transportation due to the Covid-19 epidemic, the average price of animal feed ingredients increased ...
Source: Danviet

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