January 11, 2011
Vietnam to import more animal feed products in 2011
Vietnam is expected to import 7.7 million tonnes of animal feed products this year to meet local demand, compared to six million tonnes last year, according to the Ministry of Industry and Trade (MoIT).
The country's animal feed output would be 15.2 million tonnes this year while local demand is likely to hit 20.6 million tonnes; the ministry said.
Over 12 million tonnes of the output will be produced by local animal feed processing plants. Households nationwide will produce the rest.
Vietnam is predicted to have to import animal feeds until the next ten years since domestic firms will still fail to meet soaring demand, which will grow at least 8% and 9% in the 2009 to 2020 period.
The country is now home to 265 animal feed producing and trading companies, with 225 of which have their own producing factories.
In 2010, Vietnam spent US$2.16 billion for animal feed imports, up 22.4% from a year earlier, the government's General Statistics Office said.