Vietnam spends $900m on animal feed imports in Q1

Xinhua, HANOI: Vietnam spent nearly 900 million US  dollars on imports of animal feed and materials in the first quarter (Q1) of 2017, up 33.36 per cent year-on-year, according to the Vietnam Customs on Monday.
During January-March, Vietnam imported those items from over 20 markets worldwide. Besides two major markets of Argentina and China, Vietnam saw a sharp increase of animal feed imports from Italy (up 572.06 per cent year-on-year), the Philippines (218.04 per cent), Canada (164.74 per cent), and Chile (110.65 per cent) among others.
According to the Vietnam’s Ministry of Industry and Trade, as the domestic production of animal feed currently fails to meet the local demand, each year, Vietnam has to import a huge amount of animal feed from foreign markets.
In 2016, the country spent some 3.46 billion U.S. dollars on imports of animal feed and materials, with some 1.67 billion U.S. dollars on corn imports and 661 million U.S. dollars on soya beans.

Vietnam spends $900m on animal feed imports in Q1

Xinhua, HANOI: Vietnam spent nearly 900 million US dollars on imports of animal feed and materials in the first quarter (Q1) of 2017, up 33.36 per cent year-on-year, according to the Vietnam Customs on Monday. During January-March, Vietnam imported those items from over 20 markets worldwide. Besides two major markets of Argentina and China, Vietnam saw a sharp increase of animal feed imports from Italy (up 572.06 per cent year-on-year), the Philippines (218.04 per cent), Canada (164.74 per cent), and Chile (110.65 per cent) among others. According to the Vietnams Ministry of Industry and Trade, as the domestic production of animal feed currently fails to meet the local demand, each year, Vietnam has to import a huge amount of animal feed from foreign markets. In 2016, the country spent some 3.46 billion U.S. dollars on imports of animal feed and materials, with some 1.67 billion U.S. dollars on corn imports and 661 million U.S. dollars on soya beans.