Vietnam spends more than 2 billion dollars on feed and material imports in 5 months

Vietnam spent 2.04 billion dollars importing feed and raw materials for the production of this type of product in the first five months of the year, according to data from the Ministry of Agriculture and Rural Development (MARD).

The figure represents a year-on-year decrease of 2%.

Feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market share, followed by India (18.3%) and the US (15.2%).

Compared with the same period of the previous year, the imports of the three countries increased by 3.9%, 130% and 28.3%, respectively.

Vietnamese manufacturing sector experiences its third consecutive decline

MARD recommends that, to reduce dependence on imported feed, local farmers use available domestic raw materials, produce feed themselves to reduce costs, and find sources of raw materials for feed production.

The figure represents a year-on-year decrease of 2%.

The ministries and agencies are asked to strengthen control over the importation of meat and by-products, support importers to reduce product costs, and create favorable conditions for the development of material zones for feed production.

Article republished from the Vietnamese state media VNA in the framework of an agreement between both parties to share content. Link to the original article: https://en.vietnamplus.vn/vietnam-emerges-as-a-major-motorcycle-market-and-manufacturing-hub/254120.vnp

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