Vietnam: Domestic chicken surplus, imported chicken is still high

Published 2023년 3월 2일

Tridge summary

Market research company Ipsos Vietnam has found that while chicken meat consumption in Vietnam is expected to grow due to high demand, chicken production is hampered by cheap imports and high demand. In 2022, imported chicken meat was valued at $237 million, despite a surplus domestic supply. The cost of raising chickens has increased due to a sixfold price increase in bran, but prices are expected to stabilize in the second or third quarter of 2023. The decline in the land fund for livestock in Vietnam is also impacting the industry. Additionally, pork consumption is not expected to recover from the 2018 African swine fever epidemic, as the aging population is moving towards healthier food options.

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

Original content

Market research company Ipsos Vietnam has just announced an assessment of the meat consumption and livestock market in Vietnam. In the chicken production segment, Ipsos Vietnam assessed that although chicken meat consumption is forecasted to continue to grow rapidly, it is difficult for chicken production to increase suddenly because the market is fiercely competitive by imported sources and associated with high demand. followed by a series of challenges. According to data compiled by Ipsos Vietnam, in 2022 alone, the value of imported chicken meat has reached $237 million to import about 178,000 tons of chicken, despite the already surplus domestic supply. In the opposite direction, only 1,000 tons were exported with a total value of 2.2 million USD. Thus, the export price of chicken is about 2.2 USD/kg, the average imported chicken meat is only 1.33 USD/kg. While chicken farmers are looking for solutions to lower costs to compete with cheap imports, the cost of raising chickens ...

Source: Industry and Consumption Newspaper