Vietnam announced an increase in animal feed prices after the price of grain increased to the highest level in 10 years

Published 2022년 5월 11일

Tridge summary

In late April 2022, Japfa Comfeed Vietnam and Emivest Feedmill Vietnam announced increases in broiler feed prices due to rising costs of raw materials, with other companies following suit. This situation is part of a larger global trend, exacerbated by the Russia-Ukraine conflict, of soaring prices in the animal feed market. Factors contributing to this include high demand for livestock products and adverse weather conditions. As a result, the prices of key feed ingredients like corn and soybean have seen significant increases, putting pressure on animal feed manufacturers. Additionally, the volume and value of soybean and corn imports by Vietnam in the first four months of 2022 have fluctuated compared to the previous year. The USDA's report on planting progress in the U.S. also points to potential challenges in the global grain market.

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

Original content

At the end of April 2022, Japfa Comfeed Vietnam Company - Southern region has officially announced to adjust the price of broiler feed products, applied to the farm directly with an increase of 400 VND/kg, time effective from 3/5. The reason for the price increase given by Japfa is that the raw materials for the production of animal feed are fluctuating very strongly. Similarly, Emivest Feedmill Vietnam Co., Ltd. also announced to adjust the price of animal feed from May 1 with an increase of 400 VND/kg for concentrated feed and piglets and 300 VND/kg for other types of feed. again. De Heus Co., Ltd. was also forced to increase the price of animal feed due to the pressure of input material prices rising too high. According to the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development), in April, the prices of some animal feed ingredients remained stable at a high level since the end of last month due to the influence of ...

Source: Danviet