Vietnam: Exporting fishmeal to China and then importing it for animal feed processing

The article highlights the significant reliance of Vietnam's animal feed processing industry on imported raw materials, which has led to a surge in animal feed prices. The country imports a vast array of feed ingredients, including corn, soybean meal, and wheat, many of which are not locally produced due to productivity disadvantages compared to global leaders. This dependency results in high costs, including logistics, which account for over 10% of animal feed costs in Vietnam, contrasting with a global average of 5%. The article also points out the quality issues and the need for a sustainable development strategy for animal feed ingredients, with the Vietnam Poultry Breeding Association recommending measures to reduce import dependence and develop an industry plan to increase domestic production and decrease reliance on imported feed ingredients. The Ministry of Agriculture and Rural Development is working on a draft project aimed at boosting the animal feed processing industry and reducing import dependence by 2030.