Corn imports up 30%

16:45 | 08/06/2015 Trade

Vietnam imported 2.87 million tonnes of corn valued at US$622 million in the first five months of this year, up 30% in volume and 17% in value over the corresponding period of last year.

Corn imports up 30%

The Vietnam Food Association (VFA) attributed the domestic growing demand for processing animal food to a sharp increase in corn imports over recent years, principally from Brazil, Argentina, India and the US.

Businesses also imported more than 730,000 tonnes of soybeans and US$1.38 billion worth of animal food and other materials in the foresaid period.

Meanwhile the VFA reported that Vietnam only exported nearly 2 million tonnes of rice as businesses found it difficult to win new contracts from major export markets while the price of rice for temporary stockpiling remained high./.

Source VOV News