Crop Production Department: Vietnam’s corn imports to continue
Staff Writer | August 1, 2017
Vietnam imported 3.53 million tonnes of corn in the first half of this year, up 5.6 percent over the same period last year, according to the Crop Production Department.
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Last year 8.5 million tonnes had been imported, a year-on- year increase of 9.5 percent, with Argentina, Brazil accounting for 47.2 percent and 41.2 percent of the imports.
The imports this year are expected to match last year’s, the department said.
The area under corn in Vietnam reached 1.15 million hectares last year, with output being 5.24 million tonnes, the department said.
According to the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD), about eight million tonnes, mostly from imports, are used every year to produce animal feed.
The rest is directly used for food, food processing and producing bio-energy, it said.
IPSARD has forecast that demand for corn used to produce animal feed is expected to increase to 9 million tonnes by 2020, and the country will continue to rely on imports.
With high production cost and low yields, domestic output is unable to compete with imports, it said.
Besides, taxes on corn imports are likely to decline in the future.
The country hopes to have 1.16-1.26 million hectares under corn cultivation by 2020 and 950,000-1.1 million hectares by 2025, and output of 5.4-5.8 million tonnes and 4.8-5.5 million tonnes a year, respectively.
The sector would focus on measures to cut production costs and improve competitiveness, it said. ■ What to read next
The heavy downpours that have pummeled Seoul and central regions of South Korea also hit the retail industry, causing closures of department stores and delayed deliveries of goods to consumers.
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