Vietnam is agricultural but still has to spend more than $5.6 billion to import animal feed: When will it ever stop eating?

Published 2023년 7월 30일

Tridge summary

Vietnam relies heavily on imported animal feed and raw materials for its livestock industry due to limited domestic production capacity and high costs. In the first six months of 2023, Vietnam spent $2.34 billion on importing animal feed and ingredients, a decrease of 10.7% compared to the same period in 2022. The Ministry of Agriculture and Rural Development is urging businesses to accelerate the development of raw material areas for animal feed to reduce costs and improve the competitiveness of the livestock industry.

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

Original content

Talking to PV, Mr. Phung Duc Tien posed the question: How to build a relatively autonomous livestock industry, how to deal with food? Is it dependent on imported food forever, importing corn and soybean forever? It is proposed to speed up the areas where raw materials for animal feed are grown, and to end the situation of "overeating". According to preliminary statistics of the General Department of Customs, imports of animal feed and raw materials to Vietnam in June 2023 increased by 2.7% compared to May 2023 but decreased by 29.6% compared to May 2023. with June 2022, reaching 405.63 million USD. Generally, in the first six months of 2023, Vietnam spent up to $2.34 billion importing animal feed and animal feed ingredients, down 10.7% compared to the first six months of 2022. In which, Vietnam imports the most animal feed and raw materials from the Argentine market, accounting for 25.4%, followed by India, the US and some Southeast Asian markets. The reason why Vietnam is an ...

Source: Danviet