November 10, 2010
Vietnam's animal feed prices to remain flat
Animal feed prices in Vietnam will be stable from now to the traditional Lunar New Year, after the prices rose by 1.5-2% last month due to input material price hikes last month.
Local enterprises have increased feed prices as material prices have surged since early this year. The soy price rose by 11% while poultry powder rocketed 38%, said Le Ba Lich, head of the Vietnam Feed Association.
Local firms have stocked enough materials as cargo vessels will find it hard docking at local ports in October and November due to weather conditions, he said, adding that a company with production capacity of 20,000 tonnes has stocked 40,000 to 50,000 tonnes of materials.
"So feed prices in Vietnam will be stable although material prices on the world market will increase in the rest of this year," Lich said. Besides, the government's policies for necessity price controls will help prevent sudden price hikes on the local feed market, he added.