Vietnam is forecast to spend some $5.55 billion on importing nearly 10.5 million tons of raw materials for animal feed production this year, according to the Ministry of Industry and Trade’s Information Center for Industry and Trade.

It imported 10.32 million tons of raw materials for animal feed production last year, costing $5.6 billion.

Materials include oilseed meal, wheat, fish meal, bone meal, animal protein, and a mixture of trace elements. The price of many types of raw materials has increased 10-20 per cent compared to 2021.

The importation of soybeans accounted for 48.5 per cent of the volume and 50.1 per cent of the value of raw material imports for animal feed production in 2022, or 5.01 million tons worth $2.81 billion.