According to data from the General Department of Customs, in the first 7 months of 2024, Vietnam spent 2.91 billion USD to import animal feed and raw materials, a slight increase of 2.2% over the same period last year.

Foreign direct investment enterprises spent 1.22 billion USD to import this item, up 5% over the same period. Domestic enterprises imported animal feed and raw materials with 1.69 billion USD, up slightly 0.1% over the same period last year.

Vietnam spends 2.91 billion USD to import animal feed and raw materials (Illustration photo)

As of July 2024, except for February and July, when Vietnam's imports decreased, the remaining months recorded high growth in import turnover compared to the same period last year. Notably, April increased by 34% compared to the same period last year, reaching 498 million USD.

In the first 7 months of 2024, Argentina was the largest market supplying animal feed and raw materials to Vietnam with 827 million USD, up 10.8% over the same period last year. Following was the US with 652 million USD, up 56% over the same period last year., Brazil with 404 million USD, down 14% over the same period last year.

Vietnam also spent 248 million USD importing animal feed and raw materials from China, up 53% over the same period last year; India with 109 million USD, down 70% over the same period last year.

Among the largest markets, Vietnam imported animal feed and raw materials from two ASEAN markets, including Indonesia with a turnover of 81 million USD, up 12.8% over the same period; imported from Thailand with 122 million USD, up 65% in value compared to the first 7 months of 2023.

The demand for imported animal feed and raw materials is taking place in the context of Vietnam's livestock industry having remarkable developments. In the past 3 years, Vietnam has always maintained the 5th largest pig herd in the world in terms of head and 6th in terms of output; the top poultry herd in the world (of which waterfowl ranked 2nd in the world); the output of raw fresh milk ranked 4th in the ASEAN region; the output of industrial animal feed ranked first in Southeast Asia and 12th in the world.

Vietnam's livestock products also bring in good export turnover of 515 million USD in 2023, up 26.2% over the previous year. Currently, more and more livestock products are being expanded for export such as honey, suckling pigs, bird's nest, salted duck eggs, milk and processed chicken meat...