For more than a year, the price of animal feed has increased 10 times in a row and is rising further.
Experts have pointed out that the distribution of benefits in the livestock production chain has become unreasonable. Farmers who make products only earn a modest profit, while most of the money goes to merchants’ pockets.
Husbandry companies are being squeezed on two fronts, with prices for poultry and cattle stagnating and falling in some cases while animal feed material prices have been surging, pushing many to halt production or even declare bankruptcy.
The outlook for Vietnam's livestock market was bright over the next ten years as the population grows to nearly 107 million with an average income of US$10,000, said Minister of Agriculture and Rural Development Nguyen Xuan Cuong.
The livestock and related sectors’ exports were worth US$855.4 million in the first nine months of the year and is expected to reach $1.2 billion for the year, according to the Ministry of Agriculture and Rural Development.