Cj Vina Agri Co., Ltd. (Vietnam)

Established in 1999 in Long An Province, the subject specializes in manufacturing and trading cattle, poultry and aquatic feeds; pig, chicken, duck breeds; and cool meat products. Its products are mainly distributed in the domestic market. Besides, the subject exports products to Cambodia and Indonesia. The materials for production are purchased from domestic suppliers and imported from Australia, the USA, Singapore, South Korea, India, Malaysia, etc.Noticeably, on 07 Apr 2022, CJ Vina Agri Co., Ltd. successfully held the Inauguration Ceremony of the Cool Meat Processing Complex in the Dong Nam Industrial Park, Cu Chi District, Ho Chi Minh City to complete an important piece in the development strategy of the Meat Master brand. Currently, the company has 7 animal feed factories, more than 1,000 processing pig farms, 100 centralized pig production farms and 50 Pork Shop selling points in Vietnam. In addition, the company distributes clean meat to large supermarket chains across the country such as Lotte, Big C, King Food, San Ha Food, Tmart, GS25.In 2023, CJ Vina Agri changed its brand identity named Richmade, marking a new step in the field of animal feed production.Vietnam is considered to have great potential for developing the animal feed market. However, due to limited domestic supply and large import of raw materials, businesses are highly dependent on price fluctuations and the supply of the world market. In addition, enterprises in this industry are also affected by fluctuations in energy prices, risk factors from supply chains and pressures from exchange rate, inflation increases and political instability in the world. However, for the domestic market, experts say that the prospect of the animal feed industry in 2023 is positive, slightly better and has a high growth rate in the next 5 years. In the first 11 months of 2023, the total import turnover of animal feed ingredients (wheat, corn, soybeans, animal feed) was about USD 9.5 billion, down by 9.5% over the same period in 2022. According to data from the Vietnam Commodity Exchange (MXV), after peaking last year, prices of animal feed ingredients are now falling sharply. In particular, the prices of corn, soybeans and wheat have decreased by about 15 - 30% compared to the beginning of the year. World raw material prices tend to cool down, besides transportation costs also recorded a decrease, which help reduce the burden of production costs for businesses in the animal feed industry. This affects the output prices of companies in the industry. Until now, big players in this industry have adjusted decrease prices 5 times. In the face of a decline in raw material prices, the growth expectation of the animal feed industry in 2024 is more positive than in 2023. One of the main factors driving the growth of the animal feed market is increasing demand for food products of animal origin such as meat, milk and eggs. With these positive signals, bright business results can be expected for companies in the industry in general and the subject in particular this year.