According to preliminary statistics from General Department of Customs, in the first 7 months of 2024, Vietnam exported nearly 584.18 million USD worth of animal feed and raw materials, down 10.5% compared to the first 7 months of 2023.
In July 2024 alone, animal feed and raw material exports reached over 90.65 million USD, up 4.7% compared to June 2024 but down 30% compared to July 2023.
China is the largest export market for animal feed and raw materials from Vietnam, accounting for 40.9% of total export turnover of animal feed and raw materials of the whole country.
In the first 7 months of 2024, animal feed and raw material exports to this market reached nearly 239.15 million USD, down 23.5% compared to the first 7 months of 2023; In July 2024 alone, export to this market reached 38.22 million USD, up 4.5% compared to June 2024 but down 46.6% compared to July 2023.
The next is the US market reaching over 74.87 million USD, up 80.2%, accounting for 12.8%. Exports of animal feed and raw materials to the Southeast Asian market reached over 175.76 million USD, down 18.1% compared to the first 7 months of 2023, accounting for 30% of total export turnover of animal feed and raw materials of the whole country.
Notably, export to Bangladesh have been increasing sharply in recent months. In the first 7 months of the year, although Vietnam's exports to this country only reached 3.9 million USD, it increased by 72.93% compared to 2023. In July alone, exports increased by 160% over the same period.
According to a report from Foreign Agricultural Service (FAS) of US Department of Agriculture, despite economic challenges and high feed prices, demand for animal feed is expected to increase in Bangladesh as large commercial poultry farms expand operations. Therefore, many businesses here have turned to Vietnam to increase supply.
Total bilateral trade turnover between two countries has grown strongly in recent times from 93 million USD in 2009 to 927 million USD in 2023. Regarding agricultural products, Vietnam exports to Bangladesh items including rice, rubber, rubber products, animal feed and raw materials.
Over the past 20 years, Vietnam's technology and quality of animal feed have improved significantly, fully meeting requirements of demanding import markets.
According to Alltech Agricultural Outlook 2023 report, Vietnam's output reached 26.720 million tonnes, ranking 8th in the world. Vietnam is also in the world's top 10 in terms of global animal feed and aquaculture production.
Currently, Vietnam has 269 factories producing complete mixed industrial animal feed with a total designed capacity of 43.2 million tonnes. Of which, 90 factories are owned by FDI enterprises (accounting for 33.5% in quantity; 51.3% in design capacity) and 179 factories belong to domestic enterprises (accounting for 66.5% in quantity and 48.7% in design capacity).
Thanks to its strong growth potential in recent years, Vietnamese animal feed market is attracting many businesses to participate, including many foreign-invested enterprises to expand their production and business.

Source: Vitic/ congthuong.vn