Foreign-invested feed companies meet majority of domestic demand
Vietnam’s animal feed distributors have reduced their imports in the first two months of 2012 due to high domestic supply, according to Vietnam Animal Feed Association vice chairman Pham Duc Binh.
Import values of animal feed fell to US$359 million in January and February, 17.5 percent lower than the same time in 2011. Imports from India dropped 18.2 percent.
Foreign-invested feed companies continue to meet most of the domestic demand, such as Thailand’s CP Group and U.S.-based Cargill, according to the Ministry of Industry and Trade. The ministry is urging greater domestic investment in the feed industry and suggesting the development of a long-term strategy to promote domestic investment in the industry, particularly in the production of raw materials such as corn and soybeans.