According to the Ministry of Agriculture and Rural Development, import turnover of livestock and chicken feed reached US$1.15 billion in the first five months of the year, an increase of 40.6 percent over the same period last year.
In May alone, Vietnam imported 236,000 tons. The main import markets have been India with nearly 25 percent, the US with 18.42 percent and Argentina with 14 percent.
Despite high import turnover, the retail price escalated by VND1,500 a kilogram while the price of pork and chicken fell by 40-50 percent over the last one year.
The Ministry of Agriculture and Rural Development and the Ministry of Finance said that they would launch an inspection over cattle feed prices as soon as possible.
The Livestock Department under the Ministry of Agriculture and Rural Development is proposing to the Government to remove the five percent Value Added Tax imposed on cattle and chicken feed, which has indirectly affected farmers.
