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Enhancing Profitability in Vietnam’s Livestock Sector: An Overview of Early Fiscal Developments

As the Lunar New Year celebrations draw to a close, Vietnam’s livestock sector is experiencing a promising commencement to the fiscal period. The latter portion of the previous year marked a significant turnaround with the decline in feedstuff prices, facilitating a progressive reduction in the cost of animal fodder. This pivotal shift has empowered agriculturists to transition towards profitability, effectively mitigating the economic adversities encountered in preceding periods.

The Hanoi Bureau of Livestock Management, Aquaculture, and Veterinary Sciences delineates that the expenditure incurred in the production of one kilogram of bovine livestock (with an average weight of 480 kg per specimen in a collective of 20) is estimated at VND 74,400, juxtaposed with market entry prices averaging VND 80,600. Concurrently, the cost associated with swine production (assuming an average herd composition of 600 with each swine weighing 100 kg) is quantified at VND 46,400 per kilogram, with market valuations pegged at VND 56,000. The expenditure for industrially reared poultry is calculated at VND 22,400 per kilogram, with a selling price of VND 26,000, whereas the cost of raising free-range CP poultry is VND 42,800 per kilogram, commanding a sale price of VND 47,000.

Một mô hình nuôi gà thả vườn ở ngoại thành Hà Nội. Ảnh: Dương Đình Tường.

The livestock demographic within Hanoi has exhibited notable augmentation, with buffalo populations increasing by 1.2%, albeit a marginal decline in cattle populations by 0.06%. The swine and poultry sectors have registered growth rates of 5% and 2.4% respectively, relative to the preceding year. This expansion has precipitated enhanced production volumes, with buffalo meat output escalating by 3.9%, bovine meat by 0.2%, swine meat by 7.2%, poultry meat by 1%, and poultry ovum production by 3.7%.

The initial months of 2024 herald a resurgence of optimism within Vietnam’s livestock domain, characterized by diminished feed costs and augmented production levels, thereby bolstering the profitability margins for farmers. This resurgence not only offers solace to the farming community but also heralds a propitious phase for the nation’s agricultural sustainability and food sovereignty. Looking forward, the industry is poised to sustain this upward trajectory, with a strategic focus on the adoption of sustainable agricultural methodologies to guarantee enduring success.

Translated by Quyen.

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