Business
Cow and beef imports rise in Vietnam
  • | nguoilaodong, dtinews.vn | October 22, 2018 02:26 PM
Vietnam is becoming a major cow and beef importer due to increasing demand for high-quality meat.

   

Beef sold at supermarkets

Meat and Livestock Australia (MLA) livestock services manager in Asia-Pacific region Michael Patching said the firm had entered Vietnam three years ago when the industry was still dominated by low-quality products. Slaughterhouses were largely unhygienic and cow carcasses were often pumped with water to increase their weight.

However, standards have improved along with increasing demand for clean and quality food. Price is no longer a pressing problem. The amount of cheap meat imported from India is on the decline while more people choose to buy beef from the US and Australia.

Both the number of imported cows and meat have increased in the past years. Vietnam imports 200,000 cows from Australia each year. Statistics from the General Department of Vietnam Customs show that in the first eight months of 2018, Vietnam imported over 24,000 tonnes of beef that worth nearly USD91m.

Owner of a local import company, who wanted to remain anonymous, said the estimated monthly spending of USD11.4m on imported beef might not be accurate. He said, "Beef from the US carries a duty of 7-18% so many firms declared lower prices to pay less tax."

Retail meat prices in HCM City are from VND530,000 (USD23) to VND850,000 per kilo.

According to the Department of Livestock Production under the Ministry of Agriculture and Rural Development, Vietnam has about 5.4 million cows, a 14.7% fall compared to 2008. However, meat output actually increased by 43.4% but has yet to meet demand.

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