vietnam animal feed weekly report april 17-23 2014

www.agromonitor.vn

1 |M a k i n g S e n s e o f V i e t n a m M a r k e t

WHAT WERE OUTSTANDING

OVER THE WEEK?

The volume of imported corn

delivered to Vietnam remained high

for the first half of April

Wheat harvesting pace of India was delayed

China may continue cancelling imports of soybeans

Domestic rice bran prices rallied

Re-production of pigs in Southeastern

region is difficult on plunged number

of sows

Weekly Report

Vietnam Animal Feed

Market

(Week 17/04-23/04/2014)

ANALYSTS:

TRAN NGOC YEN

TRAN THI NGA

TEL: 84 4 66823428

Email: [email protected]

Skype: cmduc19

____________________________________

Vietnam Market Analysis and Forecast Joint

Stock Company AgroMonitor Room 1604, Building No. 101 Lang Ha Street,

Dong Da District, Hanoi

Tel: 84 4 6273 3596 /Mobile: 0943 411 411

Email: [email protected]

www.agromonitor.vn

Making Sense of Vietnam Market

2

Input Output of Animal Feed sector in the fourth week of April 2014 (As of April

23)

Item

Province This week

(VND/kg)

Compar

ed to last

week

(VND/kg

)

Compared

to last

month

(VND/kg)

Compared

to the same

period last

year

(VND/kg)

Note

Input

Corn Dong Nai 6,000 0 -300 -1,175

Price at

warehouses

of buyers

Feed cassava Dong Nai 4,600 0 -575 200

Price at

warehouses

of buyers

Rice bran Kien Giang 4,800 200 -537 -550

Price at

warehouse

of sellers

Soymeal Dong Nai

14,500 0 450 500

Price at

warehouses

of buyers

Output

Live hog Southeaster

n region 54,000 1,000 7,500 17,625

Price at

farm gate

Live hog Mekong

River Delta 53,000 1,000 - -

Price at

farm gate

Piglets Southeaster

n region 105,000 0 - -

Price at

farm gate

Colored chicken

(chicken seed)

Southeaster

n region 7,000 0

Price at

farm gate

Colored chicken

(broiler)

Southeaster

n region 41,500 2,000 10,250 375

Price at

farm gate

White chicken

(chicken seed)

Southeaster

n region 9,500 0 - -

Price at

farm gate

White chicken

(broiler)

Southeaster

n region 25,000 -2,000 - -

Price at

farm gate

Duck seed Southeaster

n region 9,500 -1,000 - -

Price at

farm gate

Duck (for meat) Southeaster

n region 40,500 -5,000 - -

Price at

farm gate

Chicken egg Southeaster 1,000 -100 - - Price at


3

n region farm gate

Duck egg Southeaster

n region 2,100 0 - -

Price at

farm gate

Live cow Southeaster

n region 85,000 0 - -

Price at

farm gate

Black tiger shrimp

(30 heads/kg) Ca Mau 280,000 0 38,333 115,400

Price at

lagoon

Black tiger shrimp

(40 heads/kg) Ca Mau 220,000 0 16,667 65,400

Price at

lagoon

White shrimp

(90 heads/kg) Ca Mau 112,000 2,000 -13,667 15,250

Price at

lagoon

Tra fish grade 1 Can Tho

25000 -500 1500 3750

Price at

lagoon

Tra fish grade 2 Can Tho 23500 -500 1000 3250

Price at

lagoon

Source: adapted by AgroMonitor


4

MA RKET D EV ELOPM EN TS

OVERVIEW


Domestic rice bran

prices rallied on tight

supply

Re-production of pigs in

Southeastern region is difficult

on plunged number of sows

Consumption of feed for

white shrimps is peaking

Some small and medium feedmills in

Southeastern region reduced their operation

capacity by 50%


5


Brazil is about to finish harvesting soybeans

China may continue

cancelling imports of

soybeans

Corn and soybean harvesting pace in Argentine is still

slow

Wheat winter

conditions of the U.S.

may be improved

Grain exports of Ukraine slowed

down

Wheat harvesting pace is very slow in

India


6

MATERIALS PROVIDING CALORIES

CORN & DDGS, CORN GLUTEN

The volume of imported corn delivered to Vietnam remained high for the first half of

April 2014

According to AgroMonitors market information system, prices of South American corn

imported to HCMC port (bulk, delivered at the port) early this week kept unchanged at

VND 5,700/kg (excluding VAT). Accordingly, offers for corn delivered to warehouses of

feedmills in Dong Nai and farms were stable at VND 6,000/kg. For corn harvested in

Dong Nai and some provinces in the Mekong River Delta, the selling prices at

warehouses in Dong Nai were VND 5,800-5,900/kg, so prices of corn delivered to farms

in the province were about VND 6,000-6,100/kg, unchanged from a week earlier.

According to AgroMonitors market information system, early this week, some vessels

carrying South American corn arrived at Hai Phong port with the quite low prices of

VND 5,700/kg owing to low quality. For Indian corn, the prices of the ingredient

delivered at Hai Phong port were VND 5,800-5,900/kg. To date, corn procurement prices

of feedmills have been about VND 5,950-6,000/kg in Hung Yen and Hai Duong and

VND 6,000-6,050/kg in Xuan Mai. Given the prices, commercial enterprises still can sell

corn to feedmills if the transportation fee is shared equally to both buyers and sellers.

Moreover, it is also said that feedmills are negotiating to extend the time for corn

reception owing to their high inventories.

Offers for Indian corn to HCMC port/Hai Phong port (cont, delivery in May) turned to

climb to US$ 250/260/ton CFR, up by US$ 3/ton from a week earlier.

Procurement prices of whole-grain corn by week, 2010-2014 (VND/kg)

Source: AgroData


7

Corn imports of Vietnam, 2013-15/04/2014 (thousand tons, %)

Month 2013 (thousand

tons)

2014 (thousand

tons) Changes: 2014/2013 (%)

1 93.7 580.0 519.0

2 71.7 629.5 778.5

3 244.9 405.6 65.6

4 239.6 217.3 -

5 190.4 6 131.8 7 153.2 8 159.6 9 53.1 10 188.3 11 202.1 12 472.2 Total 2200.5 1832.4 -


In the world market, CBOT corn prices turned to go down early this week on weak

import demand for U.S. corn. Moreover, that the weather was forecast to be more

favorable to corn planting in the U.S. also contributed to forcing the prices down.

World corn prices (US$/ton)

Market Basis Futures Early this

week

Average

price last

week

Average

price last

month

Average

price last

year

USA CBOT May 193.8 196.7 189.9 226.6

USA CBOT Jul. 196.0 199.1 192.1 226.6

India NCDEX Apr. 193.0 193.6 197.5 207.3

India NCDEX May 198.2 198.4 197.5 207.3

India NCDEX Jun. 203.5 - 201.4 207.3

Ukraine FOB - 248.0 249.3 242.3 -

Brazil Local - 234.5 233.7 235.3 210.4

Brazil BMF May 229.9 233.3 227.4 -

Brazil BMF Jul. 215.6 218.8 213.6 -

Argentina FOB - 227.5 225.0 225.4 242.1



8

Corn prices in some major markets in the world, 2012-2014 (US$/ton)

Source: AgroData

DDGS & corn gluten

According to AgroMonitors market information system, offers for DDGS imported from

the U.S. (delivery in May/June/July, HCMC port) in the week ending on April 17 were

US$ 368/363/363/ton, down by US$ 8/11/3/ton from a week earlier.

Similarly, regarding corn gluten (gluten meal), export prices of U.S. corn gluten (delivery

in May) in the week ending on April 17 dropped to US$ 890/ton FOB, down by more

than US$ 40/ton from a week earlier.

Refer to some DDGS import contracts, 10/04-16/04/2014:

Date Origin Port of discharge Basis Volume (ton) Price (US$/ton)

14/04/14 USA ICD Tay Nam CFR 1,300 317

14/04/14 USA Hai Phong port CFR 1,044 369

12/04/14 USA Cat Lai port CFR 690 307

11/04/14 USA Hai Phong port CFR 476 362





9

DDGS and corn gluten imports of Vietnam, 2013-16/04/2014 (thousand tons, %)


tons)

2014 (thousand

tons) Changes: 2014/2013 (%)

1 12.9 24.9 92.6

2 21.3 36.8 72.7

3 36.1 54.6 51.2

4 28.9 19.6 -

5 33.4 6 46.6 7 49.0 8 49.1 9 39.2 10 31.5 11 18.8 12 25.2 Total 392.0 135.9 -


DDGS and corn gluten imports by market, 01/04-16/04/2014 (ton):

Ingredient Market Volume (ton)

DDGS United States of America 19,034

Corn gluten United States of America 552


Prices of DDGS imported to some major ports, 2013-04/2014 (US$/ton, CFR)

Year 2013 2014

Month 3 4 2 3 16/04

Cai Lai port (HCMC) 384.8 393.0 343.0 344.8 335.4

Hai Phong port 387.6 391.7 347.0 345.7 341.3

ICD Phuoc Long Thu Duc 384.8 389.4 340.7 344.0 345.1

Source: AgroMonitor, adapted from General Department of Vietnam Customs


10

Prices of corn gluten imported to some major ports, 2013-4/2014 (US$/ton, CFR)

Year 2013 2014

Month 3 4 2 3 16/04

Cai Lai port (HCMC) 821.5 792.4 846.0 844.3 854.0

Hai Phong port 798.6 646.4 819.0 846.2 846.0

Vict port 845.7 - 773.0 809.0 -


Imports of DDGS and corn gluten by enterprise, 01/04-16/04/2014 (Million US$, %)

Enterprise Value

(million US$)

Share (%)

Share changes vs. the

previous month (%)

Production enterprise 4.3 63.2 3.0

CP Vietnam Corporation Xuan Mai branch

0.6 8.5 7.4

Asia Nutrition Technologies Co, Ltd (VN) 0.4 5.8 3.1

GREENFEED Vietnam JSC-Hung Yen branch

0.3 4.2 2.2

GREENFEED Vietnam JSC 0.3 4.1 3.8

DE HEUS Co., Ltd 0.2 3.6 1.2

Other 2.5 37.0 -14.7

Commercial enterprise 2.5 36.8 -3.0

Southern Salt Group JSC 0.6 8.3 8.1

Van Son Service Agriculture Co., Ltd 0.4 5.8 -2.0

Bac Thanh Son Co., Ltd 0.4 5.2 3.7

Vina Commodities Mien Nam JSC 0.2 2.9 1.0

Tan Long Chemical Industry JSC 0.2 2.5 0.0

Other 0.8 12.2 -13.8



11

Primary data on top 10 DDGS & corn gluten

importing enterprises in March 2014 (million

US$)

Top 10 DDGS & corn gluten importing

enterprises, 01/04-16/04/2014 (million US$)


WHEAT

Wheat imports of Vietnam, 2013-03/2014 (thousand tons, %)


tons)

2014 (thousand

tons) Changes: 2014/2013 (%)

1 123.3 160.0 29.8

2 108.8 176.8 62.6

3 72.1 165.7 129.8

4 147.5 5 164.0 6 183.4 7 65.0 8 177.3 9 178.5 10 248.6 11 180.2 12 171.7 Total 1820.4 502.5



12

Following the same trend with corn, CBOT wheat prices also turned to go down in the

first sessions of this week because the weather became more favorable to the

developments of crops in the U.S. Regarding India, wheat futures of the country tended

to go up because wheat harvesting pace was slower than expected owing to substantial

rain in recent time.

World wheat prices (US$/ton)

Market Basis Futures

Early this

week

Average

price last

week

Average

price last

month

Average

price last

year

USA CBOT May 246.4 253.5 249.5 251.2

USA CBOT Jul 248.9 256.3 250.2 251.2

India NCDEX May 256.8 254.1 257.8 260.2

India NCDEX Jun. 262.0 257.5 256.4 260.2

India NCDEX Jul. 267.6 - 258.4 260.2

Ukraine

(Feed wheat) FOB - 248.5 250.0 245.0 -

Canada

(Feed wheat) ICE Spot 192.0 193.0 180.0 -

Australia

(ASW1)

Berrybank,

Vic - 275.0 278.3 278.0 -


Wheat prices (NCDEX) of India, 2012-2014 (US$/ton)

Source: AgroData


13

RICE BRAN-CASSAVA

In Tay Ninh, at the end of the previous week, Khmer New Year (Chol Chnam Thmay) in

Cambodia ended, the people started to work as usual. However, the cassava chip volume

transported to the border gate remained low at less than 100 tons/day. Selling prices of

cassava chips at warehouses in Chang Riec climbed to VND 4,300-4,400/kg for normal

unclassified cassava chips while feed cassava chips were offered at quite high prices of

VND 4,500/kg. Procurement prices of cassava chips of feedmills in the Southeastern

region were unchanged at VND 4,300-4,400/kg for tapioca C and VND 4,600-4,700/kg

for feed cassava chips. Feedmills in the Southeastern region have reduced their operation

capacity by up to 50% on difficult consumption of finished feed caused by high

transportation fees and unfavorable re-production of pigs of raisers.

In Quy Nhon, procurement prices of cassava chips varied depending on warehouse

owners when reaching VND 4,100-4,350/kg. Specifically, VND 4,100/kg was the price

which warehouse owners procured newly-processed cassava chips transported from Phu

Yen. Warehouse owners continued to tighten control over quality and discount high loss

rate. The volume of cassava chips transported to Quy Nhon was quite low at less than

1,500 tons/day only and about 100 tons was transported from Phu Yen.

In northern region, commercial warehouse owners offers for cassava chips (delivered in

Son La and Yen Bai) were quite stable at about VND 4,500-4,600/kg. However, most

plants suspended the procurement on high transportation fees.

Regarding rice bran, according AgroMonitors market information system, selling prices

of unmixed rice bran at warehouses in Kien Giang and Tien Giang early this week

climbed to VND 4,800/kg and VND 4,700/kg, respectively, up by VND 200/kg from a

week earlier. The prices turned to rally because the winter-spring rice crop ended and the

supply was not ample as in the previous time. Moreover, drying plants also had

procurement demand for rice bran for stocks.

Meanwhile, regarding imported rice bran, offers for Indian rice bran delivered to HCMC

port/Hai Phong port (cont, delivery in May) early this week inched lower by US$ 1/ton

to US$ 187/204/ton for rice bran grade 1 and US$ 177/145/ton for rice bran grade 2.


14

Cassava chip procurment prices of enterprises by week, 2010-2014 (VND/kg)

Source: AgroData

Developments of rice bran prices at warehouses in Mekong River Delta, 2012-2014

(VND/kg)

Source: AgroData


15

Refer to some major wheat bran and rice bran contracts, 10/04-16/04/2014:

Date Ingredient Origin Port of

discharge Basis

Volume

(ton)

Price

(US$/ton)

16/04/14 Rice bran India Cat Lai port CFR 629 188

16/04/14 Rice bran India Cat Lai port CNF 542 193

16/04/14 Rice bran India Cat Lai port CFR 538 190

15/04/14 Wheat

bran Russian Cat Lai port CFR 503 205


Rice bran and wheat bran imports of Vietnam, 2013-16/04/2014 (thousand tons, %)


tons)

2014 (thousand

tons) Changes: 2014/2013 (%)

1 64.2 91.2 42.0

2 59.8 87.1 45.6

3 91.7 60.7 -33.8

4 42.5 25.4 -

5 64.5 6 43.9

7 54.7 8 52.6 9 56.2 10 67.1 11 55.7 12 65.6 Total 718.4 264.4 -


Imports of rice bran and wheat by market, 01/04-16/04/2014 (ton):


Wheat bran

Indonesia 9,322

Uganda 1,998

Tanzania (United Rep.) 1,587

Sri Lanka 1,050

Mozambique 918

Russian Federation 817


16

United Arab Emirates 491

Taiwan 306

Malaysia 250

Singapore 221

Rice bran India 8,415


Prices of rice bran imported to some major ports, 2013-4/2014 (US$/ton, CFR)

Year 2013 2014

Month 3 4 2 3 16/04

Cat Lai port (HCMC) 207.7 208.7 172.0 178.2 189.1

Hai Phong port 218.3 228.3 190.0 191.0 192.4

Vict port 205.7 207.3 226.0 183.0 -


Prices of wheat bran imported to some major ports, 2013-4/2014 (US$/ton, CFR)

Year 2013 2014

Month 3 4 2 3 16/04

Cat Lai port (HCMC) 260.8 255.3 230.0 232.1 205.0

Hai Phong port 256.1 262.0 227.0 233.0 237.1


Imports of rice bran and wheat bran by enterprise, 01/04-16/04/2014 (million US$,

%)

Enterprise Value

(million US$)

Share (%)

Share changes vs.

the previous month (%)


Dabaco Vietnam Corp. 1.1 18.7 14.7

ABC Vietnam JSC 0.5 9.4 2.4

Viet Phuong Ha Nam Co., Ltd 0.5 9.3 9.3

GREENFEED Vietnam JSC Dong Nai branch

0.4 6.7 2.8

GREENFEED Vietnam JSC 0.3 5.8 -0.9

Other 1.5 27.3 -12.0


17


Bac Thanh Son Co., Ltd 0.3 4.7 -0.6

An Khang JSC 0.3 4.5 3.6

Van Son Service Agriculture Co., Ltd 0.2 3.1 -1.5

Nhat Thanh Import-Export JSC 0.1 2.2 -0.8

Unme Viet JSC 0.1 2.2 0.3

Other 0.3 6.1 -17.2


Preliminary data on top 10

enterprises importing rice bran and

wheat bran in March 2014 (million

US$)

Top 10 enterprises importing rice bran and

wheat bran, 01/04-16/04/2014 (million US$)


MATERIALS PROVIDING PROTEIN

SOYBEANS -SOYMEAL

According to AgroMonitors market information system, early this week, selling prices

of soymeal at warehouses in Dong Nai were about VND 14,200-14,300/kg. Accordingly,

plus transportation fees, prices of soymeal delivered at warehouses of feedmills and

farms in Dong Nai were about VND 14,500/kg, unchanged from a week earlier.


18

Developments of soymeal prices in Dong Nai by week, 2010-2014 (VND/kg)

Source: AgroData

Prices developments of soymeal imported to major ports (US$/ton, CFR)

Source: AgroData

Offers for Indian soymeal (cont, delivery in April) to HCMC port/Hai Phong port

climbed to US$ 660/670/ton (CNF), up by US$ 5/ton from a week earlier. Following the

same trend, offers for Argentine soymeal (vessel, delivery in May at the departure port)

to HCMC port at the end of a week earlier were US$ 589/ton (CNF), up slightly by US$

2/ton from late March.


19

Refer to some major soymeal import contracts, 10/04-16/04/2014:

Date Origin Port of discharge Basis Volume

(ton)

Price

(US$/ton)

10/04/14 Argentina

Interflour port (Vung Tau) CNF 5,700 537

10/04/14 Argentina


10/04/14 Argentina


10/04/14 China Can Tho port CFR 1,900 586 10/04/14 Argentina



Unlike corn and wheat, soymeal imports to Vietnams ports in March soared to 245.5

thousand tons, up by 6 times on the month and up by 2 times on the year, raising total

soymeal imports for the first quarter of 2014 to 448 thousand tons, up by 43.7% year on

year.

Soybean imports of Vietnam, 2013-15/04/2014 (thousand tons, %)


tons)

2014 (thousand

tons) Changes: 2014/2013 (%)

1 45.4 161.9 256.4

2 28.5 40.6 42.5

3 113.9 245.5 115.5

4 105.8 72.7 -

5 129.3 6 111.2 7 221.5 8 107.0 9 42.6 10 54.2 11 15.6 12 181.6 Total 1156.6 520.7 -

Source: adapted by AgroMonitor; *estimated data from MARD


20

Soymeal imports of Vietnam, 2013-16/04/2014 (thousand tons, %)


tons)

2014 (thousand

tons) Changes: 2014/2013 (%)

1 219.9 186.8 -15.0

2 122.6 208.9 70.4

3 352.6 140.8 -60.1

4 135.9 102.7 -

5 286.4 6 298.8 7 271.4 8 323.9 9 353.7 10 274.9 11 199.4 12 321.6 Total 3161.1 639.2 -


Soymeal imports of Vietnam, 2013-4/2014 (thousand tons, %):

Market Volume (ton)

Argentina 85,849

China 13,059

United States of America 1,683

India 1,286

Brazil 791


Prices of soymeal imported to some major ports, 2013-4/2014 (US$/ton, CFR)

Year 2013 2014

Month 3 4 2 3 16/04

Hai Phong port 567.0 550.3 557.2 560.6 577.1

SITV port (Vung Tau) 597.0 - 612.5 - 622.3

Cat Lai port (HCMC) 558.8 567.2 558.3 575.2 632.2



21

Soymeal imports by enterprise, 01-16/04/2014 (million US$, %)

Enterprise Value

(million US$)

Share (%)

Share changes vs.

the previous

month (%)


C.P. Vietnam Corp. 30.6 50.4 50.4

Hung Vuong JSC 10.2 16.8 16.8

Lai Thieu Feedmill Co., Ltd 1.9 3.1 0.1

Proconco JSC-Hai Phong branch 1.9 3.1 1.2

Cargill VN Co., Ltd 1.5 2.5 0.5

Other 8.6 14.2 -48.7


Tan Long Chemical Industry JSC 5.5 9.1 4.7

Q&T Joint Stock Company 0.3 0.6 0.5

Ha Lan Production Trading Service Joint Stock Co. 0.1 0.1 0.0

Thu Do Production and Trading Co., Ltd 0.0 0.1 0.1

Vinh An Trading and Investment Co., Ltd 0.0 0.0 -1.1

Other 0.0 0.0 -24.5


Preliminary data on top 10 enterprises

importing soymeal in March 2014 (million

US$)

Top 10 enterprises importing soymeal, 01/04-

16/04/2014 (million US$)


22


Like corn and wheat, world soybean prices early this week tended to go down on ample

supply in the South America in line with the information that China might continue

cancelling soybean imports from the U.S. and South America.

World soybean prices (US$/ton)


Early this

week

Average

price last

week

Average

price last

month

Average

price last

year

USA CBOT May 547.2 552.1 522.0 511.5

USA CBOT Jul. 543.4 547.6 517.5 511.5

USA FOB - 523.5 530.0 539.1 535.7

Brazil Local - 506.7 508.4 492.7 504.2

Brazil BMF May 520.8 523.6 501.5


World soymeal prices (US$/ton)


Early this

week

Average

price last

week

Average

price last

month

Average

price last

year

USA CBOT May 532.2 536.3 506.8 472.8

USA CBOT Jul. 521.7 523.9 493.9 472.8

Argentina FOB - 524.0 523.3 537.5 509.3

Brazil FOB - 519.0 512.5 515.5 -

India FOB - 667.5 662.5 606.0 563.7



23

Developments of soybean prices in major markets of the world, 2011-2014 (US$/ton)

Source: AgroData

Developments of export soymeal prices in major markets of the world, 2011-2014

(US$/ton)

Source: AgroData

OIL MEAL

According to information received by AgroMonitor, export prices of Indonesian rapeseed

meal early this week turned to go up to US$ 262/ton, up by US$ 4.3/ton from a week


24

earlier. Offers for rapeseed meal imported from India to HCMC/HP port this week were

US$ 295/307/ton (CNF), unchanged from a week earlier.

Prices of Indian rapeseed meal (US$/ton)

Market Basis

First two

days of

the week

Average

price last

week

Average

price last

month

Average

price last

year

India FOB 262.0 257.8 249.7 253.3


Developments of export prices of Indian rapeseed meal, 2013-2014 (US$/ton, FOB)

Source: AgroData

Refer to some major oil meal import contracts, 10/04-16/04/2014:

Date Ingredient Origin Port of discharge Basis Volume

(ton)

Price

(US$/ton)

11/04/14 Palm kernel

meal Indonesia Khanh Hoi port CNF 1,210 178

10/04/14 Copra meal Philippines Hai Phong port CNF 534 263

11/04/14 Rapeseed

meal India Cat Lai port CFR 500 265

14/04/14 Rapeseed

meal India

ICD Phuoc Long

Thu Duc CNF 494 280

14/04/14 Palm kernel

meal Indonesia Khanh Hoi port CNF 440 182



25

Imports of oil meals (rapeseed meal, canola meal, copra meal, palm kernel meal) of

Vietnam, 2013-16/04/2014 (thousand tons, %)


tons)

2014 (thousand

tons) Changes: 2014/2013 (%)

1 32.1 19.0 -40.7

2 23.4 80.0 242.3

3 42.7 70.6 65.3

4 35.4 22.9 -

5 34.1 6 25.5 7 37.1 8 27.7 9 15.3 10 16.2 11 35.1 12 19.5 Total 344.1 192.5 -


Oil meal imports by market, 01/04-16/04/2014 (ton):

Ingredient Import port/Origin Volume (Ton)

Palm kernel

meal

Indonesia 7,670

Malaysia 98

Copra meal Philippines 6,305

Canola meal United Arab Emirates 4,807

Rapeseed meal India 4,052


Prices of rapeseed meal imported to some major ports, 2013-4/2014 (US$/ton, CFR)

Year 2013 2014

Month 3 4 2 3 16/04

Hai Phong port 379.6 340.1 338.0 305.3 357.3

Cai Lai port (HCMC) 345.1 318.3 313.0 289.7 265.3



26

Oil meal imports by enterprise, 01-16/04/2014 (million US$, %)

Enterprise Value

(million US$)

Share (%)

Share changes vs.

the previous month (%)


C.P. Vietnam Corp. 1.2 19.0 10.1

ABC Vietnam JSC 0.8 13.0 6.5

C.P Vietnam Corporation - Xuan Mai branch 0.4 6.6 -3.9

Vi Na Co., Ltd 0.4 6.1 4.9

ViNa Feed JSC 0.3 4.8 1.4

Other 1.6 26.9 -12.1


An Huy B.T Co., Ltd 0.2 4.0 2.2

Animal Production Processing Import and Export Joint Stock Company (APROCIMEX)

0.2 3.5 3.0

Vinh An Trading and Investment Co., Ltd 0.2 3.2 0.5

Ky Vi Import-Export and Trading Services Co., Ltd

0.2 3.1 1.6

Thinh Giang Trading Co., Ltd 0.2 3.1 1.9

Other 0.4 6.7 -16.1


Preliminary data on top 10 enterprises

importing oil meal in March 2014 (million

US$)

Top 10 enterprises importing oil meal, 01/04-

16/04/2014 (million US$)



27

PROTEIN MEAL

According to commercial reports, in the week ending on April 20, export prices of

Peruvian fishmeal remained firm from a week earlier. Accordingly, fishmeal prices were

US$ 1,580/ton for Peruvian fishmeal typed 67% 120 TVN and US$ 1,450/ton for typed

65% standard. According to traders, sales of new-season fishmeal of Peru as of April 20

were about 100 thousand tons. Moreover, the market is also waiting for the information

about Perus new-season fishing quota which may be soon announced this week.

For bone-meat meal, export prices of protein meal typed 50% exported from the U.S. to

Asian this week were US$ 720/ton (CNF), unchanged from a week earlier.

Export prices of U.S. bone-meat meal to Asia (CNF, US$/ton)


Refer to some major protein meal import contracts, 10/04-16/04/2014:

Date Ingredient Origin Port of discharge Basis Volume

(ton)

Price

(US$/ton)

14/04/14 Bone-meat

meal Italy Cat Lai port CFR 971 400

14/04/14 Bone-meat

meal Italy Cat Lai port CIF 966 445

16/04/14 Bone-meat

meal Italy Cat Lai port CFR 519 475

16/04/14 Bone-meat

meal Netherlands Cat Lai port CFR 508 455

14/04/14 Bone-meat

meal Uruguay Cat Lai port CFR 507 340

10/04/14 Fishmeal Thailand Vict port CFR 500 1,170



28

Imports of protein meals (including bone-meat meal, poultry meal, fishmeal,

hydrolyzed feather meal, squid liver meal) of Vietnam, 2013-16/04/2014 (thousand

tons, %)


tons)

2014 (thousand

tons) Changes: 2014/2013 (%)

1 36.0 93.8 160.9

2 19.5 61.4 215.4

3 63.7 73.1 14.8

4 71.7 35.9 -

5 84.2 6 72.6 7 61.7 8 59.5 9 50.8 10 46.8 11 34.8 12 42.0 Total 643.2 264.2 -


Protein meal imports by market, 01/04-16/04/2014 (ton):


Bone-meat meal

Italy 13,058

Bulgaria 2,530

Netherlands 2,329

Argentina 1,876

Paraguay 1,500

Poland 1,072

Slovenia 524

Brazil 520

Uruguay 507

Singapore 366

France 293

United Kingdom 194

Fishmeal

Thailand 2,951

Peru 2,804

Malaysia 45


29

Myanmar (Burma) 36

Taiwan 20

Poultry meal

Spain 976

Saudi Arabia 405

Bulgaria 403

Italy 397

Australia 200

Canada 200

Hydrolyzed feather

meal

Australia 540

Argentina 351

Malaysia 170

Bulgaria 147

Saudi Arabia 105

Brazil 102

Italy 98

New Zealand 37

Squid liver meal Korea (Republic) 1,172

China 36


Prices of bone-meat meal imported to some major ports, 2013-4/2014 (US$/ton,

CFR)

Year 2013 2014

Month 3 4 2 3 16/04

Cai Lai port (HCMC) 519.2 527.4 404.0 404.9 429.4

Hai Phong port 511.2 516.5 392.0 411.2 429.9



30

Protein meal imports by enterprise, 01-16/04/2014 (million US$, %)

Enterprise Value

(million US$)

Share (%)

Share changes vs. the

previous month (%)


UNI - PRESIDENT VN Co., Ltd 4.0 17.9 7.1

D.D.P Manufacture Materials Co., Ltd 3.7 16.6 3.7

Grobest Industrial (VN) Co., Ltd 1.6 6.9 3.2

Shenglong Bi-Tech Co., Ltd 1.1 4.8 1.6

Lai Thieu Feedmill Co., Ltd 0.8 3.6 2.3

Other 4.2 18.8 -3.5


ORIENT GIXCO., Ltd 2.4 10.6 -3.3

Vietfarm Production Trading Co., Ltd 1.2 5.3 -0.6

Chim En Co., Ltd 0.9 4.1 -2.7

Ngan Ha Trading JSC 0.9 3.9 1.2

Agrimexco 0.4 1.6 0.4

Other 1.3 5.8 -9.5


Preliminary data on top 10 protein meal

importing enterprises in March 2014 (million

US$)

Top 10 protein meal importing enterprises,

01/04-16/04/2014 (million US$)



31

MA RKET OU TLOOK

Information, events over the week

Impact

on the

market Level

Corn market

The weather is forecast to be favorable to corn

planting in the U.S. Decrease Sharply

Corn harvesting pace in Argentina is slow Increase Slightly

Corn exports of Ukraine slow down Increase Sharply

Wheat

market

Winter wheat development conditions in the

U.S. may be improved Decrease Sharply

Wheat exports of Ukraine may be suspended Increase Slightly

Wheat harvest in India is delayed Increase Slightly

Soybean

market

Soybean harvest in Brazil is about to be

completed Decrease Sharply

Soybean harvesting pace in Argentina is

delayed on substantial rain Increase Slightly

China may continue cancelling soybean

imports Decrease Sharply

Based on factors summarized on the above table, according to AgroMonitor, the world

corn prices are likely to turn to rally because the political unrest in Ukraine has raised


32

concern that grain exports of the country may be slowed down. In the week ending on

April 20, corn exports of Ukraine were low at only 176 thousand tons, down sharply from

450 thousand tons in the previous week. Moreover, that the corn harvesting pace is still

quite slow in Argentine will also contribute to driving up corn prices.

Similarly, in the time ahead, it is very likely that wheat prices will go up on interrupted

exports of Ukraine. For India, wrong-season rain in recent time has delayed new-season

wheat harvest, which will partly help drive up wheat prices. However, the price gain will

unlikely be strong as the weather is expected to be more favorable to the development of

winter wheat in the U.S.

For soybeans and soymeal, the selling prices in the South America are likely to sustain a

downward trend in the coming time owing to ample supply from the harvest in the region

while import demand of China is projected to slow down. In addition, early this week,

Brazils soybean tonnages cancelled by China were sold to the U.S., which partly

contributed to alleviating the pressure from tight supply in the country.

In Vietnam, live hog prices at farms in the Southeastern region early this week kept

climbing by VND 1,000/kg to VND 53,000-55,000/kg. According to local traders, live

hog prices in the South may remain high within five months owing to tight supply in the

domestic market. Moreover, live hog prices in some Southeast Asian countries such as

Thailand and Indonesia are also high owing to diseases, lowering import demand for

processed pork products of Vietnamese enterprises from the markets. Live hog prices are

high but the re-production of pigs are not optimistic on plunged number of sows, so

consumption of feed for pigs are unlikely to recover in some coming months.

Regarding feed ingredients, for the first half of April, corn imports of Vietnam remained

high at 217 thousand tons, raising total corn imports between January 1 and April 15 to

1.82 million tons, a triple year on year. Meanwhile, current low consumption of feed may

result in low corn prices in the coming time. Turning into May and June, it is very likely

that corn imports of Vietnam will be lower as enterprises imported a large amount of corn

for the first 4 months of the year and world corn prices have tended to go up since

February. However, according to local traders, if prices of corn imported to Vietnams

ports are about VND 6,000/kg, Vietnamese feed enterprises will be still encouraged to

boost imports in the last months of the year. It is feasible for Vietnams corn imports to

reach 3 million tons or even 4 million tons in 2014 if world corn prices are still attractive

to both production enterprises and commercial ones.


33

APPENDIX

Export prices of some feed ingredients (FOB, US$/ton)

Ingredient Origin 13/04-20/04 06/04-12/04 Changes

(%)

Corn

USA 231 228 1.3

Brazil 221 213 3.8

Argentina 227 224 1.3

Black Sea 247 247 0.0

Wheat USA 291 280 3.9

Black Sea - - -

Soymeal

USA 596 589 1.2

Brazil 524 520 0.8


India 650 640 1.6

Rapeseed meal India 262 258 1.6

Bone-meat meal CNF


USA 720 720 0.0

Australia 680 680 0.0

Poultry meal CNF USA 1100 1100 0.0

Australia 1020 1020 0.0

Fishmeal 67% 120 TVN Peru 1580 1580 0.0

Fishmeal 65% standard Peru 1450 1450 0.0

Corn gluten USA 890 930 -4.3

DDGS CNF USA 368 369 -0.3


Information about vessels carrying imported feed and ingredients to Hai Phong port

in April

Arrival date Ingredient Origin/Departure port Volume (Ton)

02/04/2014 Palm kernel meal Indonesia 3500

02/04/2014 Soymeal Ky Ha 395

03/04/2014 Soymeal China 1800

05/04/2014 Corn India 9000

05/04/2014 Palm kernel meal Indonesia 2300

05/04/2014 Bran China 3800


34

06/04/2014 Soymeal Vung Tau 1600

06/04/2014 Cassava chips Nha Trang 1283

07/04/2014 Corn Vung Tau 870

07/04/2014 Wheat bran pellets Indonesia 8030

09/04/2014 Copra meal Philippines 3284

09/04/2014 Corn Phu My 3400



11/04/2014 Corn Quy Nhon 950

11/04/2014 Corn India 19500


16/04/2014 Corn Phu My 2600


17/04/2014 Corn Phu My 3030

18/04/2014 Wheat bran pellets Indonesia 6600

19/04/2014 Soymeal Phu My 2328



Information about vessels to arrive at HCMC port in April

Arrival date Item Buyer Volume (ton)

04/04/2014

Soymeal Production enterprise 2037

04/04/2014

Copra meal Production enterprise 1760

Commercial enterprise 1540

09/04/2014

Palm kernel meal Production enterprise 670


15/04/2014

Palm kernel meal Production enterprise 1760


23/04/2014





35

Information about vessels to arrive at Thi Vai port (Vung Tau) in April and May

Arrival date Item Buyer Volume (ton)

04/04/2014

Corn + soybeans Commercial enterprise 38000

11/04/2014


24/04/2014

Soymeal - 6600

05/05/2014



Feed & ingredient imports, 01-16/04/2014 (ton, US$):

Ingredient Volume (ton) Value (US$)

Soymeal 102,668 60,675,855

Bone-meat meal 24,771 10,588,402

DDGS 19,034 6,402,242

Wheat bran 16,959 4,047,742

Feed additives 10,544 13,503,941

Rice bran 8,415 1,613,705

Palm kernel meal 7,768 1,413,463

Copra meal 6,305 1,680,856

Fishmeal 5,856 8,046,936

Canola meal 4,807 1,945,117

Other 12,093 8,189,340

Total 219,219 118,107,599


Output of livestock, poultry and fishery feed (thousand tons)

Year Month Livestock and

poultry Fishery

2013

6 832.0 244.0

7 863.0 243.0

8 906.3 253.5

9 926.7 271.9

10 957.2 278.1

11 967.2 274.4


36

12 898.5 249.6

2014

1 820.8 191.9

2 692.5 172.5

3* 792.8 200.0

Source: Adapted by AgroMonitor from General Statistics Office; Data for March 2014*

are estimated

Production index of feed for livestock, poultry and fishery by month (at 2010s

constant price), %

Year Month Production index of feed for livestock, poultry and

fishery

2013

1 130.5

2 108.5

3 124.8

4 127.5

5 131.5

6 131.2

7 133.4

8 140.4

9 147.7

10 149.3

11 150.3

12 149.1

2014

1 125.6

2 111.3

3* 127.8

Source: Adapted by AgroMonitor from General Statistics Office; Data for March* are

estimated


37

Consumption and inventory indexes of feed manufacturing for livestock, poultry

and fishery (%)

Time Item

Compared to

last month

(%)

Compared to

the same

period last year

(%)

Accumulated index

from the beginning of

the year compared to

the same period last

year (%)

7/2013 Consumption 93.4 100.5 101.7

1/8/2013 Inventory 109.7 117.7 -

8/2013 Consumption 101.4 102.3 101.9

1/9/2013 Inventory 106.4 125.0 -

9/2013 Consumption 110.9 111.4 102.7

1/10/2013 Inventory 101.6 121.2 -

10/2013 Consumption 103.0 107.5 103.2

1/11/2013 Inventory 102.0 133.3 -

11/2013 Consumption 98.5 113.2 104.4

1/12/2013 Inventory 105.6 138.2 -

12/2013 Consumption 100.2 103.4 103.6

1/1/2014 Inventory 106.0 133.2 -

1/2014 Consumption 89.0 98.5 98.5

1/2/2014 Inventory 100.8 134.8 -

2/2014 Consumption 83.9 97.9 98.4

1/3/2014 Inventory 107.4 141.2 -

Source: Adapted by AgroMonitor from General Statistics Office

---------------------------- * All rights are reserved. Any recommendations, data contained in this publication are extracted from

publicized sources, guaranteed validity by AGROMONITOR starting from the time of publication.

Expressions of opinion are those of AGROMONITOR only and prepared for the use of AGROMONITOR

clients and may not be redistributed, retransmitted or disclosed, in whole or in part, or in any form or manner,

without the express written consent of AGROMONITOR.

vietnam animal feed weekly report april 17-23 2014

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