China is Vietnam's largest importer of animal feed and raw materials.

China is Vietnam's largest importer of animal feed. (Illustrative image)

Specifically, according to statistics from the General Department of Customs, the country's livestock feed export turnover in 2023 reached nearly 1.2 billion USD, an increase of 6% compared to 2022.

Exports of animal feed to the Chinese market – the largest market in 2023 – reached US$577.41 million, an increase of 30.1% compared to 2022, accounting for 48.3% of the country's total export value of this product group.

Exports of animal feed to Cambodia – the second largest market in 2023 – increased by 1.2% compared to 2022, reaching US$166.73 million. Malaysia ranked third in terms of value, reaching US$117.84 million, an increase of 28.2% compared to 2022.

Exports of animal feed to FTA-RCEP markets in 2023 increased by 15.1% compared to 2022, reaching US$982.86 million, accounting for 82% of the total export value. Exports to CPTTP markets increased by 9.9%, reaching US$144.67 million, accounting for 12% of the total export value. Exports to Southeast Asian markets increased slightly by 2.1% compared to 2022, reaching US$354.47 million, accounting for 29.6%.

According to data from the General Department of Customs, in the first six months of 2024, exports of animal feed and raw materials reached over US$492.88 million, a decrease of 5.6% compared to the first six months of 2023. In June 2024 alone, exports reached US$86.6 million, a decrease of 6.2% compared to May 2024 and a decrease of 10% compared to June 2023.

China is Vietnam's largest importer of animal feed and raw materials, accounting for 40.7% of the country's total export value of animal feed and raw materials.

In the first six months of 2024, exports of animal feed and raw materials to this market reached over US$200.48 million, a decrease of 16.6% compared to the first six months of 2023; in June 2024 alone, exports to this market reached US$36.59 million, a decrease of 12% compared to May 2024 and a decrease of 24.4% compared to June 2023.

Next, the US market reached nearly $63.62 million, an increase of 91.8%, accounting for 12.9%; Cambodia reached $55.54 million, a decrease of 33.5%, accounting for 11.3%; Malaysia reached $49.51 million, a decrease of 4.1%, accounting for 10%…

Mr. Pham Kim Dang commented that the results achieved show that Vietnam's technology and quality of animal feed fully meet the requirements of the import market.