Vietnam's feed industry uses more corn

After a slump in the first half of 2023, Vietnam's livestock industry is expected to recover in the coming months, driven in part by lower corn prices that have led to a gradual reduction in animal feed costs, according to a study. U.S. Department of Agriculture's Foreign Agricultural Service (FAS) Global Agricultural Information Network (GAIN) Report. FAS expects demand for animal feed to increase from 20.6 million tons this year to 21.4 million tons in 2024. With corn prices lower than wheat and rice, corn import demand is expected to reach approximately 8.8 million tons in 2023, FAS said. On the other hand, demand for imports of fodder wheat and fodder rice declined. “It is important to note that the drop in demand for rice for animal feed can be attributed to the Indian government's ban on exports of rice bran extract from July 28 to November 30, along with the imposition of an export tax of 20 % on parboiled rice”, said the FAS. The FAS revised corn consumption in Vietnam in ...