POSITIVE FACTORS FUELING STRONG GROWTH IN VIETNAM’S LIVESTOCK INDUSTRY IN Q1/2024

25/04/2024

Vietnam’s livestock industry in Q1/2024 has favorable bright spots. The export value of livestock products is estimated to reach 113 million USD, up 4.8% over the same period in 2023. However, there are still some challenges that need to be resolved.

Pig and poultry farming achieves high economic efficiency

Due to controlled epidemics, pig and poultry populations have developed well. In addition, the number of closed, large-scale livestock enterprises has increased; while the scale of smallholder livestock production has decreased, leading to higher economic efficiency and reduced production costs.

However, the buffalo and cattle farming sector has declined due to lower economic returns and shrinking grazing lands.

The total live meat production in Q1/2024 is estimated to exceed 2 million tons (an increase of 4.5% compared to the same period in 2023). Of these, the pig population increased by 3.3%, and the total number of poultry increased by 2.1%.

According to the Department of Livestock Production’s forecast, the supply of livestock and poultry meat is assured, and consumption demand does not increase significantly as the weather is about to enter the hot season, which may lead to a decrease in the prices of livestock and poultry products, slowing down consumption.

A new dawn in exporting livestock products

The export value of livestock products in Q1 2024 is estimated at USD 113 million, a 4.8% increase compared to the same period in 2023. Of this, meat, meat-type by-products, and edible offal from slaughtered animals account for USD 38.2 million; dairy products and milk account for USD 36.8 million.

Regarding breed imports, in Q1 2024, Vietnam imported 518 breeding pigs, 1,657 breeding cattle, and 583,783 breeding chickens.

Continue the growth momentum with the plans of the Ministry of Agriculture and Rural Development

According to Mr. Phung Duc Tien – Vice Minister, Ministry of Agriculture & Rural Development, in Q1/2024, Vietnam’s livestock industry has witnessed impressive growth. However, the export of livestock products has not lived up to expectations. Therefore, enhancing exports and expanding international cooperation opportunities have become top priorities. The livestock industry is also trying to address challenges from diseases affecting livestock herds and pressure from the market.

The Department of Livestock Production has identified essential tasks, including organizing conferences and specialized seminars on pig and poultry farming and feed, to update and disseminate new regulations and propose timely production development solutions. Additionally, the Department of Livestock Production organizes task forces to work with localities and enterprises, aiming to deploy and maximize the potential of livestock areas designated for export.

Following these directives, numerous conferences and seminars on livestock will persist in taking place across the country: the Livestock Development Conference, disease prevention, and vaccination for livestock and poultry in Spring 2024 in Nghe An province in March; the Green Livestock Solutions Seminar in April in Dong Nai province; the Vietstock Expo & Forum in October in Ho Chi Minh City, and more.

VIETSTOCK – 20 years of innovation, A true milestone achievement

VIETSTOCK is Vietnam’s Premier International Feed, Livestock, Aquaculture & Meat Industry Show. Informa Markets organizes this annual event with the Department of Livestock Production, the Ministry of Agriculture & Rural Development, and various agencies, organizations, and associations.

Beyond a B2B exhibition, Vietstock is a companion and business connector for Vietnam’s livestock industry and the region. A wealth of industry information will be shared with attendees through a series of programs at the exhibition, where top experts from numerous enterprises, universities, and associations will bring valuable knowledge and experience in livestock and aquaculture with engaging and useful topics.

Don’t miss the opportunity to participate in the Vietstock Expo & Forum taking place from October 9 – 11, 2024, at SECC (799 Nguyen Van Linh, Ward Tan Phu, District 7, Ho Chi Minh City), the event takes place concurrently with Aquaculture Vietnam 2024.

Reserve your space now: https://www.vietstock.org/en/book-a-stand/

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