In an effort to decrease the country’s dependence on imports for animal feed, Vietnam’s Ministry of Finance has announced tariff increases of 5% to 15% on feedstuffs in 2010, reports the Vietnam News Agency. Included in the increase are corn, other grains, soybeans and powdered fish.
Imports comprise 70% of animal feed in Vietnam, according to the agency.
"I think it's such an unreasonable and unacceptable decision. Farmers will be the first victims of the upcoming price hike," said Le Ba Lich, chairman of the Viet Nam Animal Feed Association. He added that the move will result in higher food prices.
Animal feed prices have already risen 10% to 15% since 2008, reports the Vietnam News Agency.
