Vietnam is sharply raising soyabean imports for animal feed as its livestock farming booms while demand as human food is also increasing, Hamburg-based oilseeds analysts Oil World said on Tuesday. Vietnam's March 2012/February 2013 season soyabean imports will rise to 1.18 million tonnes, up from 1.09 million tonnes in 2011/12, Oil World estimates.
"Soyabean crushings continued to increase sharply so far this year and we expect them to reach a new high of 950,000 tonnes in March 2012/February 2013, approximately 300,000 tonnes more than a year ago," it said. Vietnam's oilmeal requirements are increasing rapidly because of the expansion of its poultry, pig and aquaculture industries, it said. More soyabeans are also being consumed by Vietnam's people as its economy expands. Vietnam's own soyabean crop is rising but remains well below requirements. Vietnam's 2012/13 soyabean harvest will rise to 300,000 tonnes from 254,000 tonnes in 2011/12, Oil World said.
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