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Tuesday, July 16, 2024

US$1.35 billion spent on meat imports

By N.Tan

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HCMC – Vietnam spent around US$1.35 billion importing 615,000 tons of meat and meat products in January-November of 2022, up 4.8% in value year-on-year, according to the Agency of Foreign Trade under the Ministry of Industry and Trade.

There were 55 meat suppliers for Vietnam, with the U.S., India, Brazil, South Korea and Russia being the biggest.

India ranked first in supplying meat and poultry products for Vietnam in 2022, with over 141,000 tons worth US$455 million, up 48.4% in volume and 48.7% in value year-on-year.

However, pork imports continuously decreased due to low domestic demand.

Around US$214.85 million was spent importing around 100,520 tons of pork in the first 11 months of 2022, down 32.4% in volume and 37.4% in value over the same period in 2021.

The country imported pork from 31 foreign markets. Brazil, Russia, Germany, Canada, and the Netherlands were the five largest markets supplying pork to Vietnam. Pork imports from these markets all plunged compared to the same period in 2021, except for Brazil.

During the January-November period, Brazil was the largest pork supplier to Vietnam, with over 37,610 tons, worth US$82.57 million, up 26% in volume and 15.7% in value year-on-year.

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