The import value of animal feed and raw materials stood at $5.16 billion in the first eleven months of this year, according to preliminary figures from the General Department of Vietnam Customs.

The figure represents a year-on-year increase of 14.6 per cent.

Vietnam’s largest animal feed supplier is Argentina, followed by Brazil and the US.

During the period, Vietnam imported more than 8.4 million tons of corn worth nearly $2.9 billion, up 8.5 per cent over the same period last year.

Soybean imports totaled 1.7 million tons, worth $1.18 billion.

As Vietnam’s animal feed industry still heavily relies on imports, recent fluctuations in the international market have significantly affected the domestic industry.

Figures show that total demand in Vietnam’s livestock industry for refined feed is about 33 million tons a year, while domestic supply can provide only 13 million tons.