VIET NAM EYES US$1.5 BILLION IN EXPORT TURNOVER OF LIVESTOCK EXPORTS BY 2025

Viet Nam targets to raise the export value of livestock products to US$1-1.5 billion by 2025 and US$3-4 billion by 2030, according to a recent plan approved by the Government.

The plan aims to increase the proportion of cattle and poultry slaughtered in industrial facilities to about 60 percent and 40 percent respectively by 2025, and about 70 percent and 50 percent by the end of this decade.

The added value of processed livestock products is expected to grow from current 2-3 percent annually to 3.5-4.5 oercent between 2023 and 2025 and 4.5-5.5 percent in the 2026-2030 period.

The country will develop a number of livestock product processing facilities with scale, technology, and management which are on par with those in the region and the world.

Earlier, the Department of Husbandry under the Ministry of Agriculture and Rural Development (MARD) said that export turnover of animal husbandry products in 2023 was estimated to hit US$430 million.

In the first 11 months of 2023, export turnover of livestock products totalled US$402 million, representing a year-on-year increase of 22 percent.

Meat production is projected to reach about 7.98 million tons in 2024, a year-on-year increase of 3.8 percent.

Viet Nam primarily exports meat and livestock products to Hong Kong (China), Belgium, Cambodia, China, Laos, Malaysia, Papua New Guinea as well as France.

Source: VGP