|Imported soybean is piled up. Việt Nam imported nearly 650,000 tonnes of soybeans worth US$280 million in the first five months of this year, increasing by eight per cent in volume and 19 per cent in value year-on-year. — Photo tintucnongnghiep.vn|Viet Nam News
HÀ NỘI — Việt Nam had to spend more than US$1.5 billion to import animal feed and raw material in the first five months of this year, up 27.5 per cent compared with 2016, despite market difficulties for meat, especially pork.
The information was released by the Ministry of Agriculture and Rural Development (MARD).
Việt Nam imported nearly 650,000 tonnes of soybeans worth $280 million in the first five months of this year, increasing by 8 per cent in volume and 19 per cent in value year-on-year.
Especially, corn imported from Thailand to Việt Nam in the first four months of this year increased sharply, up 48 times in volume and 4.5 times in value over the same period last year.
The largest import market for Việt Nam’s animal feed was Argentina, accounting 45 per cent of the market share, followed by the United States, India and China.
Recently, MARD’s Department of Animal Husbandry has submitted to MARD its plan to temporarily stop building new feed mills. According to the department, the animal feed industry has to promote internal resources, use feed more effectively, control diseases and reduce costs to compete with imported products. — VNS