Feed prices forecast not to rise sharply despite re-population demand

Published 2020년 6월 3일

Tridge summary

Despite global market fluctuations due to COVID-19, Vietnam's raw material market remains stable with increased prices for animal feed materials like rice bran and cornmeal in Chuong My, Hanoi. The Ministry of Agriculture and Rural Development anticipates minimal market fluctuations in the short term due to high domestic demand for re-raising. In April, the estimated import value of animal feed and raw materials was 205 million USD, totaling over 1 billion USD in the first four months of 2020, marking a 19.7% decrease from the same period in 2019. Major suppliers include Argentina, the USA, and China. Soybean and corn imports also saw decreases in the first four months of 2020 compared to the previous year.

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

Original content

According to the Ministry of Agriculture and Rural Development, despite the complicated fluctuations in the world market, the domestic raw material market is not volatile. However, in Chuong My, Hanoi recently, the market for animal feed materials including rice bran and cornmeal tended to increase in the context of rising rice prices as well as the need to re-pig herds in many places. increase. Specifically, prices of rice bran and cornstarch increased by 100-3,000 VND / kg. The Ministry of Agriculture and Rural Development stated that although the impact of COVID-19 epidemic was complicated, the price of many raw materials in the world dropped sharply, but due to the large domestic re-raising demand, the market of feed ingredients. The forecast is not expected to fluctuate significantly in the near term. According to the Center of Informatics and Statistics, estimated import value of animal feed and raw materials in April reached 205 million USD, bringing the total value of ...

Source: AgroInfo.vn