Avivagen Inc., a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, is pleased to announce that it has signed a new distribution agreement with Nong San Viet Co., Ltd (VIET ACC) to support the company’s continued market expansion for its oxidized carotenoid-based feed additive product in Vietnam.
Founded in 2005, VIET ACC has established itself as a premier distributor of major feed ingredients and feed additive brands to major producers throughout Vietnam. With a primary focus on poultry and swine, the company is a leader in the distribution of premix and feed additives, as well as in the trading of agricultural commodities for use in livestock and aquaculture.
“Vietnam represents significant market opportunity for Avivagen, and we’re excited to be working with Viet ACC to better access the largest feed market in Southeast Asia,” says Kym Anthony, Chief Executive Officer, Avivagen. “We’ve seen strong interest from producers across Vietnam since receiving regulatory approval earlier this year and hope to see equally strong results from this new relationship over the coming months and years.”
Vietnam represents the largest feed market in Southeast Asia according to a report by the US Grains Council, which indicates total annual feed consumption of over 32 MMT in 2020. Additionally, The Grains Council report states that Vietnam is a strong growth market which is expected to surpass 35 MMT of feed within the next few years.i Production within the country is dominated by swine, with feed for swine accounting for approximately 38% of total feed, followed by poultry accounting for 21.6% of total feed. (2020)ii.
Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.