Vietnam poultry segment is expected to see slower growth at 11% in 2020, as compared to 16.5% in 2019, according to Nguyen Van Trong, Deputy Head of the Department of Livestock Production under the Ministry of Agriculture and Rural Development (MARD).
Trong added that last year, there was an oversupply as the poultry sector produced 500 million heads along with a growth of 14% in the egg output. As a result, poultry prices have dipped sharply after the Tet holiday season this year, exacerbated by the ongoing pandemic.
Meanwhile, the growing number of poultry imports have not hurt the domestic market, as imports made up of only 17% of the market at the peak period, and 10%-15% on average.
Vietnam also exports chicken meat to several countries such as Japan and the US.
Slower growth for the Poultry Segment in 2020
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