Vietnam’s imports of animal feed and raw materials in May 2024 reached a preliminary value of 441.53 million USD, according to statistics from the General Department of Customs. This figure represents an 11.5% decrease from April 2024 but an 11.9% increase from May 2023.
Cumulatively, from January to May 2024, imports of this commodity group reached nearly 2.13 billion USD, a 10% increase compared to the same period in 2023.
Argentina was the largest source of animal feed and raw material imports, accounting for 25.6% of the country’s total imports of this commodity group. Imports from Argentina reached nearly 545.04 million USD, a 13.8% increase compared to the first five months of 2023. In May 2024 alone, imports from Argentina amounted to 158.94 million USD, a 9.7% increase from April 2024 and a significant 91.9% surge from May 2023.
The United States was the second-largest market, accounting for 23.2% of the total, with imports valued at 493.68 million USD, a substantial 75.8% increase from the previous year. In May 2024, imports from the US exceeded 68.49 million USD, a decrease of 50% from April 2024 but an increase of 45.5% from May 2023.
Brazil, the third-largest market in May 2024, saw a significant surge in imports of 131.3% compared to April 2024 and a 27.3% increase from May 2023, reaching nearly 82.48 million USD. Cumulatively, from January to May 2024, imports from Brazil increased by 35.6% compared to the same period in 2023, totaling over 313.44 million USD and accounting for 14.8% of the total value.
Imports of animal feed and raw materials from Southeast Asian countries in the first five months of 2024 increased by 38.5% compared to the same period in 2023, reaching nearly 176.86 million USD and accounting for 8.3% of the total. On the other hand, imports from the EU market decreased sharply by 62.4%, amounting to 60.21 million USD or 2.8% of the total.
Annually, Vietnam allocates a significant portion of its budget to importing raw materials for animal feed, such as corn, soybeans, and wheat, to meet domestic production needs. The livestock industry consumes more than 33 million tons of feed annually, mainly for poultry and pig farming. However, domestic production can only meet about one-third of this demand.
Data from the Livestock Department indicates that the output of industrial feed in 2023 is estimated at 20 million tons, a 2.4% decrease from the previous year. Of this, pig feed accounts for 55.7%, poultry feed for 40.8%, and feed for other animals for about 3.4%. The structure of industrial feed production comprises approximately 62.5% from FDI enterprises and 37.5% from domestic enterprises.
According to statistics from the Ministry of Agriculture and Rural Development, there are currently about 265 feed mills in Vietnam, including 85 mills belonging to foreign-invested enterprises.
One of the reasons for the lack of competitiveness among domestic animal feed producers is their heavy reliance on imported raw materials. Additionally, foreign enterprises often have well-planned business strategies and implement closed-loop production and business chains, resulting in optimized efficiency.
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