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Imported meat floods local market

Vietnam has seen annual rises in imported meat, which has posed a challenge for domestic products and businesses.   

Imported meat floods local market

According to a report from the Ministry of Agriculture and Rural Development, Vietnam spent USD25 million to import beef in 2010 while the figure increased to USD92.5 million in 2014.

In 2016, Vietnam imported more than 230,000 tonnes of different kinds of meat, including 140,000 tonnes of chicken and 100,000 tonnes of pork. 

The country’s by contrast only imported 124,000 tonnes of chicken and 9,000 tonnes of pork in 2015.

Meat imports are still in high demand from local restaurants and hotels despite the import taxes of between 14-30%, experts said, asserting that the products would further flood the market if tariffs are removed following the ratification of free trade agreements with the EU and the Eurasian Economic Union.

Along with Australian beef, meat imported from Europe, Japan, and Indonesia is anticipated to flood Vietnam thanks to its quality, while the prices are just a bit higher than Vietnamese products.

Earlier in November 2015, 42 businesses from member nations of the European Union conducted a survey on the Vietnamese husbandry market to seek meat export opportunities.

According to Vietnam’s Animal Husbandry Association, the domestic husbandry sector still depends on imported animal feed, while the sector is mainly based on small-scale households with limited breeding technology. This makes it difficult for Vietnamese meat to compete against foreign products.

The General Department of Vietnam Customs reported that Vietnam spent more than USD3.2 billion on imported animal feed in 2016. The country also spent USD1.6 billion to import corn and soybeans for animal feed processing, higher than 2014 and 2015.