Vietnam is among the world’s top countries in total numbers of poultry and pigs, but the market is being gradually acquired by foreigners. About 8 million farming households have been weeded from the market.
Meat and livestock by-products are being imported to Vietnam in large quantities, causing supply to soar amid decreased demand and putting the domestic livestock industry in danger.
The difficult market, coupled with a sharp increase in loan interest expenses, caused the profits of many agriculture enterprises to fall in the first quarter of 2023, with some large corporations even recording heavy losses.