AsemconnectVietnam - The animal feed market in Vietnam 2024 showed mixed developments with both challenges and opportunities. Key highlights include price adjustments, stable domestic demand, and fluctuating import and export trends influenced by international market dynamics.

In December 2024, domestic feed prices remained unchanged compared to November 2024. Prices have been reduced twice since early 2024.
First reduction: March 2024, by major companies like New Hope, Lái Thiêu, Hòa Phát, Rico, and Cargill, with decreases ranging from 100–400 VND/kg depending on the product.
Prices of feed for pigs remained stable:
In Đồng Nai, wholesale prices for feed for pigs (30kg–60kg and from 60kg to market weight) were at 8,520 VND/kg, and piglet feed (up to 15kg) at 15,540 VND/kg.
Feed for fish also remained stable: seabass feed (UP) at 28,500 VND/kg, Cargill feed at 14,000 VND/kg.
Shrimp feed (UP) saw an increase of 1,750 VND/kg, reaching 34,500 VND/kg.
Variations in rice bran and corn flour prices:
Retail rice bran in Bình Phước decreased by 397 VND/kg, trading at 10,517 VND/kg.
Common corn prices slightly dropped by 10 VND/kg to 9,533 VND/kg, while corn flour rose 36 VND/kg to 10,450 VND/kg.
Local corn seed prices in Đồng Nai declined by 2,367 VND/kg, trading at 4,733 VND/kg.
Overall, feed prices have reduced by 200–800 VND/kg in 2024, providing relief to farmers as livestock prices remain favorable. However, feed costs are still 1,000–3,000 VND/kg higher than in previous years.
 Supply
As of November 2024, Vietnam's feed and raw material imports reached 420.56 million USD, up 4.2% from October 2024 and 30.9% year-over-year. For the first 11 months of 2024, total imports amounted to 4.44 billion USD, a 3.3% decrease compared to 2023.
Key import markets:
Argentina: The largest supplier, accounting for 34.9% of total imports (1.55 billion USD, up 21.9% YoY).
USA: Second-largest supplier at 20% (886.8 million USD, up 33% YoY).
Brazil: Imports dropped sharply (91.74% MoM in November 2024; 39.5% YoY), totaling 529.73 million USD.
 Key Commodities
· Corn:
Imports reached 11.11 million tons (worth 2.7 billion USD) in the first 11 months of 2024, with average prices of 242.7 USD/ton.
Argentina remained the largest supplier, contributing 52.5% of total imports.
· Soybeans:
Imports totaled 1.98 million tons (worth 1.02 billion USD) with an average price of 513.7 USD/ton, a 19.6% increase in volume but a 3% decrease in value compared to 2023.
· Wheat:
Imports reached 5.37 million tons (worth 1.48 billion USD), up 34.8% in volume but with average prices decreasing to 274.9 USD/ton.
 Exports
Feed and raw material exports from Vietnam in the first 11 months of 2024 totaled 941.93 million USD, a 15.2% decrease YoY.
Key export markets:
China: The largest buyer, accounting for 40% of total exports (376.57 million USD, down 30.2% YoY).
USA: Significant growth at 46%, reaching 119.94 million USD.
Southeast Asia: Export value dropped by 14.7%, totaling 298.16 million USD.
 Challenges and Opportunities
· Challenges:
High production costs: Despite reductions, feed prices remain 1,000–3,000 VND/kg higher than pre-2024 levels.
Dependency on imports: A significant portion of feed ingredients is imported, exposing the market to exchange rate and supply chain risks.
Climate change: Unpredictable weather has impacted local agricultural outputs, affecting the availability of raw materials like corn and rice bran.
· Opportunities:
Growing demand for high-quality animal protein in domestic and export markets drives feed demand.
Price adjustments and stable livestock prices offer relief to farmers, boosting their production capacity.
T.Huong
Source: Vitic