FEED INDUSTRY REPORT Q1/2020 · 2020. 4. 22. · III. Vietnam market 33 V. Planning and forecast 58...

1

FEED INDUSTRY REPORT Q1/2020

TABLE OF CONTENT

2

Content Page Content Page

Abbreviations 4 3. Production technology 16

Summary 5 4. Materials 18

I. Business environment 7 5. Production 24

1. Macroeconomic situation 8 6. Consumption 27

2. Legal framework 10 7. Export import 28

3. Trade Agreements 12 8. Production and consumption in regions of the world 30

II. World market 13 9. Production in some typical countries 32

1. Definition and classification 14 10. Leading companies in the feed production industry 34

2. Production process 15

TABLE OF CONTENT

3

Content Page Content Page

III. Vietnam market 33 V. Planning and forecast 58

1. Value chain of livestock industry 34 1. Planning for livestock industry 59

2. Materials 35 2. Planning for livestock feed industry 61

3. Production 45 3. Development drivers of the industry 62

4. Consumption 49 3. Forecast of feed market 63

5. Export import 50 VI. Enterprise analysis 66

6. Inventory 52 1. Enterprise introduction 67

7. Distribution system 53 2. Financial analysis 72

8. Analysis of industry competition 55 VII. Appendix 82

IV. SWOT analysis 56

4

Abbreviations

AHAV Animal Husbandry Association of Vietnam

Co. ltd Limited company

CPTPP Comprehensive and Progressive Trans-Pacific Partnership

FAO Food and Agriculture Organization

FDI Foreign direct investment

GDP Gross Domestic Product

GDVC General Department of Vietnam Customs

GSO General Statistics Office

IGC International Grains Council

JSC Joint stock company

MARD Ministry of Agriculture and Rural Development

SBV The State Bank of Vietnam

USDA U.S. Department of Agriculture

USGC U.S. Grains Council

5

Summary

Top feed producing

countries (2019)

Feed production (2019)

Feed additives (2019) x billion USD

Export of animal feed

(2018)

Revenue from animal

feed (2019)

Major exporting

countries(2018)

Source: VIRAC, Indexmundi

* Prices of fishmeal in San Isidro, Peru

Price of soybean meal, corn and wheat price in the US

USD/ton

WORLD MARKET

Price fluctuation of raw materials for animal feed, 1/2017 - 12/2019

6

Summary

Imported maize output

(2019)

Output of imported

wheat (2019)

Output of imported

soybeans (2019)

Feed production (2019)

Feed additives (2019)Feed consumption

(2019)

Import of animal feed

(2019)

Main import markets

(2019)

Export of animal feed

(2019)

Main destination

markets (2019)

• Inventory of animal feed in 2019 increased sharply x% compared to 2018 due to difficulties in the livestock industry. The main reason is the

outbreak of African swine cholera in the first half of the year, which affected the sales of animal feed.

VIETNAM MARKET

7

1. Môi trường kinh doanh

Nội dung

BUSINESS ENVIRONMENT

8

Part I. Business environment

1. Macroeconomic situation

Source: VIRAC, GSO

Source: VIRAC, GSO

Output value of agriculture, forestry and fishery in the first 9

months (constant 2010), 2016 - 2019

Billion VND Production of agriculture, forestry and fishery in 2019 reached a low

growth rate due to difficulties.

%GDP growth rate by quarter, 2016 - 2019

9

Source: VIRAC, GSO

Source: VIRAC, SBV

VND

The VND/USD exchange rate in 2019 continued a slight upward trend

but remained relatively stable

Monthly CPI fluctuation, 1/2015 – 12/2019

VND/USD exchange rate, 1/2013 – 12/2019


1. Macroeconomic situation

1.2.1. Group specified on production

1.2.2. Group of regulations on consumption:

Tariff policy:


2. Legal framework

10


2. Legal framework

1.2.3. Other specified group

1.2.4. Impact of the legal framework on animal feed industry

11

12

1.3.1. AEC - ASEAN Economic Community was officially established on December 31, 2015


3. Trade agreements

13

WORLD MARKET

Part II. World market

1. Definition and classification

14

• Animal feeds are products that animals eat and drink in fresh, raw or

processed and preserved forms including: raw or single feed

ingredients, complete mixed feeds, feeds. Concentrates, dietary

supplements, animal feed additives, premixes, active ingredients and

carriers.

Classification of feed by mode of processing

…

Source: VIRAC

15

Some key stages in the process of feed production include:


2. Production process

16

• The production line of animal feed will be based on animal feed production process, there are 2 main types of processes.

• Some main advantages and disadvantages of the two technologies:

Advantages Disadvantages

The first

technology

The second

technology


3. Production technology

17

Machinery for animal feed production include a number of basic types: crushing, mixing, conveying and conveying units, pelletizing machines, injection

parts, boilers, drying, cooling, bagging systems.


3. Production technology

The global feed additive market is estimated to reach US $ x billion

in 2019 and CAGR of x% in the forecast period (2020 - 2025).

Source: VIRAC, IHS


4. Materials

18

Source: VIRAC, IHS

Consumption of feed additives by type, 2019e

Consumption of animal feed additives by region, 2019e


4. Materials

19

No. Name of enterprises Revenue in 2018 Headquarters

1

2

3

4

5

6

7

8

9

10

Top largest feed additive manufacturing enterprises, 2018

Source: VIRAC, Marketresearchreports


4. Materials

Source: VIRAC, USDA

The International Cereal Council (IGC) has cut its forecast for world wheat

production in the 2019/2020 crop, due to lower production in Russia, the

European Union and Canada.

Source: VIRAC, IGC

21

Million tons

Million tons

Corn, wheat and soybean production,2010/2011 - 2019/2020f

Consumption of maize, wheat and soybeans 2014/2015 - 2019/2020f


4. Materials

Million tons

Source: VIRAC, USDA

Global wheat exports in the 2019/2020 crop were adjusted by the

USDA to decrease by x million tons to xx million tons, mainly due to

decline in the export of Australia and Kazakhstan.

22

Source: VIRAC, Worldstoexports

Billion USD

Top largest wheat exporters, 2018

Export of raw materials for animal feed,

2016/2017 - 2019/2020f

Source: VIRAC, Indexmundi


4. Materials

23

• While the price of fishmeal in the first half of 2019 remained relatively stable, the first half of the following year tended to decrease and move

sideways due to the decline in demand for pig feed in China in the context that the cholera epidemic has not been fully controlled.

USD/ton Fluctuation of raw material prices of animal feed, 1/2017 – 12/2019

In 2019, global production of animal feed production reached xx million tons, a decrease of about x% compared to 2018. The widespread spread of

African cholera has reduced the number of pigs, affecting the demand for pig feed, especially in the Asia - Pacific region decreased by x% to x million

tons


5. Production

24

Million tons

Source: VIRAC, ALLTECH

World production of animal feed, 2013 - 2019

%

• Poultry feed production in 2019 held the leading position, accounting

for xx% of the market share, but down x% compared to the previous

year.

Feed production by species, 2011 - 2019

Million tons


5. Production



25

Livestock feed production structure, 2019

• The production of aquatic feed production in 2019 was x million tons, an increase of about x% compared to 2018.



5. Production

26


Feed production by species, 2013 - 2019 Livestock feed production structure by region, 2019

Million tons

26



6. Consumption

Global feed production and consumption is strongly influenced by

meat demand.

Billion USD

Asia-Pacific has the largest share of feed consumption in the world,

Global sales of animal feed, 2013 - 2019e

Market share of animal feed consumption by region, 2017


%

In 2018, export of feed is estimated to reach x thousand tons, up

slightly compared to 2017, the export value of animal feed reached x

billion USD.


7. Export import

Source: VIRAC, Trade map

28

Source: VIRAC, Trade map

Source: VIRAC, Worldtopexport

Billion USD Thousand tons

Billion USD

World production of feed exports, 2010 - 2018eWorld export value of feed, 2010 - 2018e

Top largest feed exporting countries, 2018

North America:

Latin America:

Europe:

30



9. Production and consumption in regions of the world


Million tons

Feed production by region, 2019 Feed production structure by region, 2019

Asia - Pacific:

Africa:

31


9. Production and consumption in regions of the world

1. America

2. America



10. Production in some typical countries

32

Million tonsNumber of factory


Million tons

Top largest seafood feed producers, 2019Top largest animal feed producing countries, 2019

3. Brazil

4. Russia

5. India

6. Mexico

7. Spain


10. Production in some typical countries

33

Leading manufacturing companies in the world, 2017

Source: VIRAC, WATT Global Media


11. Leading companies in the feed production industry

No. Company Nation Production (thousand tons)

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

34

VIETNAM MARKET

34

Value chain of livestock industryThe 3F model in the livestock industry is

currently considered a standard model for

feed manufacturers.

Phần III. Thị trường Việt Nam

1. Value chain of livestock industry

35

In general, the cultivated land area maintained a downward trend during the period 2010-2018. In the period of 2015-2018, the productivity of all products

still tends to increase because the decrease of the production output is lower than the reduction rate of the cultivated area.

Source: VIRAC, MARD

Thousand ha


2. Materials – 2.1 Domestic material sources

Source: VIRAC, MARD

Structure of agricultural land, 2019Area of main agricultural land, 2013-2019

36

• Feed additives are substances with or without nutritional value added to

animal feed during processing and handling to maintain or improve certain

characteristics of animal feed includes acids amines such as lysine,

methionine, trytophan and threonine are essential for the growth of

animals, especially pigs and poultry.

Source: VIRAC, GrandView Research


2. Materials – 2.2 Import materials

Million USD

Sales of animal feed additive market in Vietnam, 2013 - 2019e

37

Source: VIRAC, GDVC



Items

2019 2018 % 2019/2018

Volume (1000 tons) Value (million USD) Volume (1000 tons) Value (million USD) Volume Value

Wheat

Corn

Soybean

Animal fats and

vegetable oils

Import of feed ingredients, 2018 and 2019

• In 2019, imports of raw materials for feed production of most products declined compared to 2018.

38

• Corn is one of the top 10 agricultural commodities that Vietnam has

to import the most. In 2019, the import of corn increased by x% in

value and x% in volume

Source: VIRAC, GDVC



Million tons

Source: VIRAC, GDVC

Corn production and import value, 2013 – 2019

Thousand tons

Billion VND

Corn imports by month, 2016 – 2019

39



Source: VIRAC, Agromonitor

• Maize imports in 2019 from major markets increased sharply both in

volume and value over the same period last year. Argentina and Brazil

are the two main maize import markets, accounting for xx% and x%

market shares, respectively.

Source: VIRAC, GDVC

Price movements of imported corn in the domestic market, 2017-2019

(VND/kg)VND/kg

Import market structure of maize, 2019

40

Source: VIRAC, GDVC



%Thousand tons

In 2019, Vietnam imported x million tons of wheat with a turnover of

about x million USD, decreased x% in volume and decreased x% in value

compared to 2018.

Source: VIRAC, GDVCSource: VIRAC, VITIC

Price movement of CBOT wheat, 2018 - 2019Uscent/bushel

Imported wheat, 2013 - 2019

Structure of Vietnam's wheat import market, 2019

41

The main import markets of Vietnam's soybeans are Brazil (accounting for

xx%) and the US (xx%). Until this time, soybean is still one of the

commodities that Vietnam has to import a lot to process feed.

Source: VIRAC, MARD, GDVC

Thousand tons



Source: VIRAC, GDVCSource: VIRAC, GDVC

Output of imported soybeans, 2010 - 2019

Thousand tons

Soybean imports by month, 2016 - 2019 Structure of Vietnam's wheat import market, 2019

%

42

The amount of soybean meal imported to Vietnam in 2019 is estimated

at x million tons, up x% compared to 2018.



Price of soybean meal offered at Northern port and exempted from South,

2017 – 8/2019


Thousand tons

VND/Kg


Soybean meal import by month, 2018 - 2019

43

• Currently, the price of domestic animal feed materials cannot compete with other agricultural powers like the US, Argentina, and India.



44

Mode of trading raw materials for animal feed among farmers, traders, agents and processing factories

Mode of payment in import and export of feed ingredients


2. Materials – 2.3 Mode of trading and payment of materials for feed

45

Source: VIRAC, GSO

• As of 2018, the animal feed industry has x businesses with more

than x employees. Domestic enterprises have twice as many

factories as FDI ones.

Source: VIRAC, GSO


3. Production

• Currently, the number of businesses producing, processing and

trading animal feed in Vietnam is too many,

Number of enterprises and employees in the animal feed industry,

2010 - 2018

Allocation of animal feed production enterprises by region, 2010 - 2018

46

Source: VIRAC, GSO

Source: VIRAC, GSO

• In 2018, revenue and profit of the animal feed industry increased

compared to 2017, increased by x% and profit increased by x%, but

still lower than in 2016.


3. Production

Billion VND

Billion VND

Revenue and Profit of animal feed industry, 2010 - 2018

Investment capital and Fixed assets for animal feed industry, 2010 - 2018

47

• According to experts, the animal feed industry of Vietnam after more than 20 years of integration has achieved many great achievements, the

average growth rate is xx%/year, making Vietnam an industrialized country. Animal feed achieved the fastest growth rate in the region.


3. Production

48

Source: VIRAC, GSO


3. Production

• Production of animal feed in 2019 reached x thousand tons, of which

the output of animal feed reached x thousand tons, down slightly by

x% compared to the previous year while the output of aquatic feed

reached x thousand tons. , an increase of x% compared to 2018.

Production of animal feed, 2010 - 2019

Thousand tons

Source: VIRAC, GSO

TonFeed production for cattle, poultry and seafood by month, 2018 - 2019

%

49

Source: VIRAC, GSO

• The feed consumption value in 2019 reached xx thousand tons,

equivalent to xx billion dong.

Source: VIRAC, GSO


4. Consumption

Billion VND

Thousand tons

Consumption value of animal feed, 2013 - 2019

Feed consumption, 2013 - 2019

%

50

Source: VIRAC, GDVC

Source: VIRAC, GDVC

• According to estimated data, the import turnover of animal feed and

agriculture to Vietnam in December 2019 reached x million USD, down

x% compared to the previous month. For the whole year of 2019, the

import turnover of animal feed and energy to Vietnam reached x

billion USD, down x% compared to 2018.


5. Export import – 5.1 Import

Million USD

Import turnover of animal feed and raw materials, 2010 - 2019

Import market structure of animal feed and raw materials

of Vietnam, 2019

51

Source: VIRAC, GDVC

In 2019, exports of animal feed and raw materials decreased by x%

compared to 2018, reaching only USD xx million, accounting for about

x% of the country's total export turnover.

Source: VIRAC, GDVC


5. Export import – 5.2 Export

Export of feed and materials, 2013 - 2019

Million USD

Export market structure of animal feed, 2019

%

52

Source: VIRAC, GSO

Production of animal feed inventory has many fluctuations over the

years.


6. Inventory

Thousand tons

Feed inventory, 2013 - 2019

%

53

• Currently in the animal feed industry there are two main kinds of

distribution:Distribution system in the feed industry


8. Distribution system

54

• Facing the difficult situation of the whole industry, the system of distribution agents is also facing many difficulties as the amount of bran sold also

decreases with the price of live pork.


8. Distribution system

55

Source: VIRAC, MNS

• Over the past 15 years, there have been many businesses and large corporations in the world involved in producing animal feed and seafood such as FDI

enterprises from countries and territories such as Thailand (Joint Stock Company), Taiwan. (Grobest, Uni President, Asian Nutrition ...), China (Thang Long,

Tongwei, Hoa Chen ...), Korea (CJ Master ...), France (Tomboy, Proconco ...), America (Cargill ...).

Name of company Pig Poultry Cattle Seafood

Leading companies in each segment


9. Analysis of industry competition

Vietnam market share of feed, 2018

56

4 Rủi ro, động lực và thách thức

4.1 Rủi ro

4.2 Động lực

4.3 Thách thức

Nội dung

INDUSTRY RISKS

Strength Weakness

Opportunities Challenge

57

Part IV. SWOT analysis

58

5 Quy hoạch và dự báo

5.1 Quy hoạch ngành

5.2 Dự báo

Nội dung

PLANNING AND FORECAST

59

Growth in animal feed industry depends on two factors: growth of the livestock market and the supply of input materials.

Kind of animalYear

2015 2016 2020

Development plan for cattle and poultry industry up to 2020

Source: VIRAC, AHAV

Part V. Planning and forecast

1. Development planning for livestock industry

60

➢ Seafood:

No. Object

2015 2016 2020

Output

(thousand tons)

Area (thousand

hectares)

Output

(thousand tons)

Demand for

food (thousand

tons)

Area (thousand

hectares)

Output

(thousand tons)

Demand for

food (thousand

tons)

1

2

3

4

Aquaculture orientation to 2020

Source: VIRAC, AHAV


1. Development planning for livestock industry

61

• The demand for meat types in Vietnam is increasing sharply, the

total output of live meat of all types in 2019 is estimated at over x

million tons, down x% compared to 2018.

Source: VIRAC, Channuoivietnam


2. Development drivers of the industry

Source: synthesis of VIRAC

1

Consumption of meat per capita of Vietnam, 2013 – 2019

Egg/person

Seafood consumption per capita, 2013 – 2019

Kg/person

Kg/person

Livestock situation in the period, 2010 - 2019

Source: VIRAC, GSO, MARD

62

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Tổng số

con

(nghìn

con)

Sản

lượng

thịt

(nghìn

tấn)


2. Development drivers of the industry

63

Source: VIRAC Source: VIRAC


3. Forecast of feed market – World

• According to Technavio's market research report, the global feed market will record revenue of more than USD xx billion by 2020. The global feed

market grows at a CAGR of x% during the period from 2018 to 2022.

Billion USD Billion USD

Forecast of world animal feed revenue, 2018e - 2022e Forecast of animal feed additive market, 2016 - 2022f

64

Source: VIRAC, FAS - VN Source: VIRAC, USDA Post


3. Forecast of feed market – Vietnam

• According to a new report by Grand View Research, Inc., Vietnam's animal feed market is expected to reach US $ x billion before 2022 and will require x

- xx million tons of animal feed. The growth rate of this industry will reach x% in the period of 2015-2022.

Million tons Million USD

Vietnam's total feed demand, 2015 - 2022f Vietnam market of animal feed additive market,

2018e - 2022f

65


3. Forecast of feed market – Vietnam

Food market for seafood 2020

• In 2020, the General Department of Fisheries aims to reach a total output of about x million tons, an increase of x% compared to the estimated implementation in

2019; pangasius production x million tons, equivalent to 2019; shrimp production of all kinds x tons, increasing x%; Seafood export turnover will reach about US $

x billion, up x% compared to 2019.

Source: VIRAC, VASEP

Million USD

Vietnam seafood export turnover, 2013 - 2022f

%

66

6 Phân tích doanh nghiệp

6.1 Giới thiệu doanh nghiệp

6.2 Phân tích doanh nghiệp

Nội dung

ENTERPRISE ANALYSIS

No. Name of company Business sectors

Net

revenue

(Billion

VND)

Company profile

1

2

3

67

Part VI. Business analysis

1. Enterprise introduction


Net

revenue

(Billion

VND)

Company profile

4

5

68




Net

revenue

(Billion

VND)

Company profile

6

7

69




Net

revenue

(Billion

VND)

Company profile

8

9

10

70




2. Financial analysis

71

CP Vietnam continues to be the business with the highest revenue in the animal feed industry in 2018, revenue this year increased significantly compared

to 2017 (up x%).

Billion VND

Source: VIRAC

Profit targets, 2017 - 2018



72

Cargill is the second-largest enterprise in the group of animal feed companies, as well as CP Vietnam, Cargill's business has recovered more than the

situation in 2017, although it still decreased slightly. x% in 2018,



73

CJ Vina Agri's revenue in 2018 increased sharply x% compared to 2017 because in this year, in Nhon Hoa Industrial Zone, An Nhon Town, Binh Dinh,

CJ Korea held a groundbreaking ceremony x-feed production machine in Vietnam, with a design capacity of more than xx thousand tons/year.



74

Most of the enterprises in the analytical group have average selling expense/net sales ratio, ranging from x - x%.

Source: VIRAC

Sale expenses/Net sales ratio, 2017 - 2018



75

Japfa Comfeed Vietnam is the company with the highest ratio of administrative expenses/net revenue in 2017 among the selected analytics group,

reaching x%, down from x% level in 2017 due to the fact that in 2018, the cost corporate management increased x% while net sales increased x%.

Source: VIRAC

General and administration expenses/net revenue ratio, 2017 - 2018



76

Most businesses in the group achieved moderate self-financing rates.

Source: VIRAC

Self-financing rate, 2017 - 2018



77

Most of the businesses in the group had a healthy financial situation in 2018 except Cargill Vietnam and Japfa Comfeed Vietnam, but the indices of

these companies were not too low and still ensure liquidity. math for businesses.

Source: VIRAC

Solvency, 2017 - 2018



78

CJ Vina Agri has the largest average collection period of 2018 in the group, reaching xx days, due to the relatively high proportion of accounts

receivable in the company's short-term asset structure (in 2017 accounting for xx%, 2018 accounted for xx%),

Source: VIRAC

Average payment period, 2018



79

CP Vietnam is the business with the largest average number of inventory days in 2018, reaching xx days because inventories account for a very large

proportion in the company's short-term asset structure (2018 accounted for xx%) and increased slightly by x% compared to 2017.

Source: VIRAC

Number of inventory days, 2018



80

• Most of the businesses in the group have slightly decreased business results compared to 2017.

Source: VIRAC

Profit ratio, 2017 - 2018



81

Emivest Feedmill has the lowest business results in 2018 compared to 2017, although the ROA and ROE index increased slightly because the price of live

hog has recovered since Q2/2018.

Part VII. Appendix

82

Content

90

Part VII. Appendix

ACCOUNTING BALANCE SHEET

Unit: VND 2017 2018

A. SHORT-TERM ASSETS

I. Cash and cash equivalents

II. Short-term financial investments

III. Short-term receivables

1. Receivables from customers

IV. Inventories

B. LONG-TERM ASSETS

I. Long-term receivables

II. Fixed assets

TOTAL ASSETS

A. LIABILITIES

I. Current liabilities

1. Short-term borrowings and liabilities

2. Taxes and amounts payable to the state

II. Non current liabilities

1. Borrowings and long-term financial leased

liabilities

2. Provision for long-term payables

B. OWNER’S EQUITY

I. Owner’s equity

II. Other funding sources

TOTAL CAPITAL RESOURCES

INCOME STATEMENT

Unit: VND 2017 2018

Net revenue of goods sold and services provided

Cost of goods sold and services provided

Gross profit of goods sold and services provided

Revenue of financial activities

Financial expenses

Interest expenses

Selling expenses

Administrative expenses

Net profit of business activities

Total accounting profit before tax

Current corporate income tax expenses

Deferred corporate income tax expenses

Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018

I. Cash flow from business activities

Net cash flow from business activities

II. Cash flow from investing activities

Net cash flow from investing activities

III. Cash flow from financial activities

Net cash flow from financial activities

Net cash flows during the period

Cash and cash equivalents at the beginning of the period

Cash and cash equivalents at the end of the period

Financial report – Thang Long Biological Technology Company Ltd.

91

Part VII. Appendix

Financial report – GREENFEED VietNam Joint Stock Company


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










92

Part VII. Appendix

Financial report – JAPFA COMFEED Vietnam Co., Ltd.


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










93

Part VII. Appendix

Financial report – C.P Vietnam Breeding Joint Stock Company


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










94

Part VII. Appendix

Financial report – Cargill Vietnam Company Limited


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










95

Part VII. Appendix

Financial report – Grobest Industrial (Vietnam) Ltd.


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










96

Part VII. Appendix

Financial report – UNI - PRESIDENT VIETNAM Co., Ltd


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










97

Part VII. Appendix

Financial report – De Hues Co., Ltd


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










98

Part VII. Appendix

Financial report – EMIVEST FEEDMILL VIETNAM Co., Ltd


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










99

Part VII. Appendix

Financial report – CJ VINA AGRI Co., Ltd


Unit: VND 2017 2018






IV. Inventories

B. LONG-TERM ASSETS


II. Fixed assets

TOTAL ASSETS

A. LIABILITIES






liabilities


B. OWNER’S EQUITY

I. Owner’s equity



INCOME STATEMENT

Unit: VND 2017 2018





Financial expenses

Interest expenses

Selling expenses






Profit after tax

CASH FLOW STATEMENT

Unit: VND 2017 2018










1.2.1. Group specified on production

Vietnam Standards Regulation Group

National Technical Regulation Group

100

Part VII. Appendix

Group of regulations on the list of substances banned from use in animal feeds:

Provisions on the list of antibiotic content permitted for use in animal and poultry feeds:

101

Part VII. Appendix

Report Disclaimer

95

Report Disclaimer

This document has been prepared in good faith on the basis of information available at the date of publication without any independent verification. VIRAC has

produced this report for private circulation to professional clients only. All information and statistical data herein have been obtained from sources we believe to

be reliable and made to ensure the accuracy of the contents of the pages of the report at the time of preparation. Such information has not been independently

verified and VIRAC makes no representation or warranty, whether express or implied, of any kind with respect to the document and its contents, information and

materials. The content found in this report is proprietary to VIRAC and is provided solely for your personal and non-commercial use. You agree that you will not

use this report for any purpose that is unlawful and that you will not reproduce the report or redistribute it outside your organisation, or place it on a website for

public access without the express written permission of VIRAC.

SHOULD YOU NEED ANY ASSISTANCE, PLEASE CONTACT US:

VIETNAM INDUSTRY RESEARCH AND CONSUTANCY (VIRAC JSC.,)

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Website: http://virac.com.vn/

Email: [email protected] | Tel: +84 463289520

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FEED INDUSTRY REPORT Q1/2020 · 2020. 4. 22. · III. Vietnam market 33 V. Planning and forecast 58...

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Transcript of FEED INDUSTRY REPORT Q1/2020 · 2020. 4. 22. · III. Vietnam market 33 V. Planning and forecast 58...