Demand for grain and oil seeds used in animal feed in south east Asia could increase by three per cent this year.
That is the prediction of Adel Yusupov, the regional director for US Grains Council, who told Business Weekly that an expansion in meat production in Vietnam is driving the demand.
>An increase in demand for animal feed could be good news for UK bulk material handling manufactures as it may also push the demand for equipment such as feeders, weighing systems, blenders, mixers and weighbelt feeders.
Mr Yuspov told the news provider that processors may require up to 49.5 million metric tons of ingredients including corn, feed wheat, rice bran, soybean meal and copra meal in feed for animals including hogs and poultry.
His predictions come as the Chicago Board of Trade announced that soybeans delivery during March rose 1.5 per cent compared to the previous month.
Experts have predicted that the US may see a decline in soybean reserves as demand for the produce rises, which may consequently push up the price for consumers.
If purchasers start buying in bulk manufacturers could see a gain in weight feeders‘ sales.