Feed prices to increase in July

Wednesday, Jun 29, 2022 07:12

Livestock farmers feeding their pigs. — Photo tuoitrethudo.com.vn

Livestock feed prices have increased five consecutive times since early 2022 and the six is to come in July.

Koji Inoue, general director of the Kyodo Sojitz Animal Feed LTD has informed his agents about imminent price adjustments.

Specifically, the company planned to raise prices of its feed for piglets by VND400 per kilo and feed for other livestock by VND300 per kilo from July 1. It underscored volatile input costs as the main reason behind the decision.

CJ Vina Agri LTD followed suit with identical adjustments. CJ Vina Agri said it had to raise feed prices to offset higher input costs since input materials have been fluctuating widely price-wise.

Other feed producers also got in on the act by adjusting up their product prices by around VND300-400 per kilo.

An agent in Tra Vinh Province estimated that feed for piglets would reach VND510,000-530,000 per bag, feed for pigs VND375,000-415,000 per bag and feed for sows VND315,000 per bag next month.

The impending price raises are believed to drive livestock raisers further into hardship as pork has not seen mounting prices recently. — VNS

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