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Animal feed prices soar in Vietnam
Vietnamese animal feed companies raised animal feed prices by VND160-VND200 (US$0.0086-0.01) per kilogramme late last week.
According to reports, this was the third time over the past month the companies increased the prices with total rises of VND480-VND600 (US$0.02-0.03) per kg.
The price hike was resulted from the Vietnamese government's decision to raise import tax on animal feed materials by 5-7% early this year.
The tax rise was believed to hurt local husbandry sector as it is boosting production to supply meat for the coming Lunar New Year or Tet.