News last update:6 Aug 2012

Vietnam wants animal feed prices regulated

Animal feed has been listed as one among several goods and services whose prices need to be regulated, according to a newly-released decision by the government of Vietnam.

The decision came after a period during which the feed industry has been under strong pressure, as its prices in the domestic market are 15-10 per cent higher than in other regional countries.

"Vietnam is an agricultural country but it has failed so far in supplying animal feed to local farmers," said Le Ba Lich, chairman of the Vietnam Feed Association.

According to Lich, prices of animal feed in Vietnam are higher, because more than 50 per cent of materials used to produce feed animal are imported and the country has faced a material shortage.

Therefore, foreign companies have been able to maintain high prices due to a lack of domestic competition.

[Source: VietNamNet]

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