Livestock industry distorts face when the price of animal feed continues to rise in Vietnam

Published 2021년 10월 11일

Tridge summary

The article highlights the significant challenges faced by Vietnam's livestock industry in the latter half of 2021, as revealed at a National Online Conference. The Ministry of Agriculture and Rural Development discussed the impact of climate change, increased global market prices of cereals, and high production costs on animal feed ingredients, leading to a surge in feed prices and production costs. The average price of animal feed ingredients rose by 16-46% in the first months of 2021, and transportation costs also escalated due to a shortage of ships and containers. Smallholder farmers are particularly affected, with high feed prices exacerbating the already low prices of pigs. The Ministry is seeking solutions, including the use of domestic raw materials, to reduce feed and input material costs and is also seeking government support to address these challenges.

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Original content

According to data from the General Department of Customs (Ministry of Finance), in the first nine months of 2021, the import turnover of livestock products is estimated at over $2.7 billion, up 1.3% over the same period last year. Regarding animal feed ingredients, speaking at the National Online Conference on "Developing livestock in the last months of 2021 and implementing the plan for 2022" taking place on the morning of October 8, 2021, Mr. , Deputy Director of the Department of Livestock Production (Ministry of Agriculture and Rural Development) said that, in the first eight months of 2021, the import of animal feed materials is about 14.45 million tons (including aqua feed materials), corresponding to 5 22 billion USD, up 24.3% in quantity and 47.4% in value over the same period in 2020. Notably, in the first months of 2021, the average price of animal feed ingredients increased from 16-46% in the first months of 2021, of which the strongest increase was for cereal ...

Source: Vinanet