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The price of animal feed ingredients in Vietnam had been relatively stable from 2015-2020, but starting in 2020, several factors are having a major impact on the prices of raw materials. These factors include the impact of the COVID-19 epidemic together with adverse weather effects from the main growing areas in the world, and now the political crisis between Russia and Ukraine.
The price increases seen in March 2022 for feed ingredients are as follows (compared to March of 2021):
- Wheat +50% to 9,850 VND/kg
- Soybean meal +33% to 16,500 VND/kg
- Whole corn +29% to 10,200 VND/kg
- Corn residues +23% to 10,300 VND/kg
Due to the sharp increase in the price of raw materials, the price of domestic industrial animal feed also increased. The price of feed for slaughter pigs increased by 18.4% to 12,500 VND/kg.
While the price of animal feed is forecasted to continue to increase, the Ministry of Agriculture and Rural Development is promoting alternative feed solutions from domestic ingredients. The use of locally available feed sources such as coconut bran, rice bran, etc. in pig diets could help reduce costs.
March 18, 2022/ Ministry of Agriculture and Rural Development/ Vietnam.
http://cucchannuoi.gov.vn
