Some Vietnamese products imported from Thailand up by more than 600%
VOV.VN - April witnessed Vietnam suddenly boost its imports of a number of products from the Thai market, increasing by 210% over the previous month and up 622% over April last year, according to preliminary statistics released by the General Department of Customs.
Imports of animal feed and raw materials to the country in April soared by 34.8% on-year to reach US$498.82 million.
Overall, the past four months have seen imports of this product group near US$1.69 billion, marking an increase of 9.8% compared to last year’s corresponding period.
The US represents the largest Vietnamese import market for animal feed and raw materials throughout the reviewed period, accounting for 25.2% of the total import turnover of this product group, reaching nearly US$425.39 million. This represents an increase of 81. 9% compared to the first four months of 2023.
The Argentine market came in second place, accounting for 23%, with US$388.32 million, down 2% over the same period from last year.
Brazil was the third largest import market in April, with imports continuing to fall by 7.9% compared to March and 53.3% compared to April of last year.
Among major markets, the country is continuously importing this item from Thailand. Specifically, in April the nation suddenly bolstered imports to US$50.93 million, an increase of 210% compared to the previous month and a sharp increase of 622% compared to April last year.
The Thai market makes up 5.1% of total Vietnamese imports of animal feed and raw materials.
According to calculations, the demand for animal feed for the domestic livestock industry will continue to increase moving forward. Currently, Vietnam needs about 30 million tonnes of animal feed each year, by 2025 and 2030 it will be 35 million and 45 million tonnes, respectively.
From 2016 onwards, imported animal feed has always constituted about 70% of demand, corresponding to 19 million to 20 million tonnes, domestic production accounted for about 30% equivalent to between 10 million to 11 million tonnes per year.
According to the Ministry of Agriculture and Rural Development, these are raw materials that the nation does not have the strength to produce domestically as it cannot compete with the US, Brazil, and Argentina in terms of area, productivity, and efficiency. Cultivation results are not as high as rice production.
