Vietnam’s Premier International Feed, Livestock, Aquaculture & Meat Industry Show (Vietstock) Expo & Forum 2024 will take place at Saigon Exhibition and Convention Centre (SECC) in Ho Chi Minh City from October 9-11.
Vietnam spent 9.07 billion USD to import nearly 22.3 million tonnes of raw materials for animal feed production in 2021, according to the Ministry of Agriculture and Rural Development (MARD)’s Department of Livestock.
Vietnam’s animal feed exports would likely touch the 1 billion USD mark in the near future as many large-scale enterprises in the field have continued to expand their production, trade experts have predicted.
Vietnam, for the first time in decades, has signed a contract with India to buy 70,000 tonnes of 100-percent broken rice from India to meet increasing demand of this kind of rice in the domestic market for producing animal feed.
The animal feed industry, which is growing at 10-15 percent annually, is highly attractive to foreign investors, who are steadily expanding their production.
The animal feed industry of Vietnam, despite being among the world’s fastest-growing by scale and output, is dominated by foreign firms while local producers are struggling to compete.
