November 20, 2017 00:45

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Market share of imported animal feed and maize from Argentina is overwhelming

14:44 | 12/09/2017

VCN – The turnover of animal feed and maize from Argentina are dominating the import market of these two commodities in Vietnam.

market share of imported animal feed and maize from argentina is overwhelming
Chart of the ratio of import turnover of animal feed and maize in the total import turnover of these two commodities in Vietnam in July of 2017. Graph: T.Bình

Currently, the animal husbandry in Vietnam is heavily dependent on the import of animal feed. According to the General Department of Vietnam Customs, as at 15/8, Vietnam spent $US 2.09 billion for importing animal feed.

Notably, the imported animal feeds item is based primarily on Argentina. According to the latest information about the import market of the General Department of Vietnam Customs, by the end of July, Argentina provided a large quantity of animal feed to Vietnam which is worth $US 944.5 million, accounting for 47, 5% of the total import turnover of the whole country.

Besides that, Argentina is also the number one market about importing maize. By the end of July, the total amount of imported maize from Argentina reached over 2.384 million tons, with a total turnover is over $US 460 million, this result accounted for nearly 56.3% of total output and nearly 54.4% of the total import turnover of maize of the whole country in the same time.

These two items are also the main import items of Vietnam from Argentina, accounting for 85.5% of total import turnover from this country.

Currently, Argentina is the largest import market of Vietnam in South America and is the second largest import market in “billion USD” of the America (by the end of July) after the US market.

By Thái Bình/Thanh Thuy