Vietnam spends US$2.6 billion on meat, dairy imports in Jan-Jul

THE HANOI TIMES — Vietnam imported nearly $2.6 billion worth of livestock products from January to July, up 23% year-on-year, according to the Ministry of Agriculture and Environment.

Dairy and dairy products accounted for over $860 million, while meat and by-products exceeded $1 billion.

In July alone, the import value was estimated at $400 million.

The high import turnover was attributed to the sharp rise in domestic consumption, coupled with fluctuations in local feed prices, which have driven up production costs and reduced the competitiveness of local products. 

In Ho Chi Minh City, imported frozen meat from Europe, Brazil, Canada, and Australia is sold at 40-60% less than domestic equivalents.

For example, imported boneless pork belly costs only $3.7-$4.9 per kg, while the local version is over $6.5. Cuts like pork leg, shoulder, and offal are also priced more affordably.

This trend, however, places mounting pressure on domestic producers, whose costs remain high due to small-scale operations and reliance on imported feed.

Experts warn that without strict quality control, low-grade imported meat could enter the market, posing risks to consumers and fair competition.

The livestock sector is urged to innovate, improve productivity, and diversify products to adapt to increasing market openness and changing consumer behavior.