Vietnam's Animal Feed Import Surges in 8 Months

Vietnam is estimated to spend over 1. 3 billion U.S. dollars importing animal feeds, and materials for production of animal feeds between January and August, a year-on- year soar of 70.4 percent, according to the country's General Statistics Office on Thursday.

Large amounts of poultry and cattle feeds, and materials for production of the feeds, mainly maize and soya bean residues, were imported from India, Argentina, the United States, Indonesia, Thailand and China.

Vietnam's Finance Ministry has recently lowered import taxes on whey and soybean used to make animal feeds to 2 percent from previous 10 percent, and to zero percent from 2 percent, respectively.

The country spent nearly 1.1 billion dollars importing animal feeds, and materials for production of animal feeds in 2007, up 52 percent against 2006.

 

Source: American Shipper