Laos recorded a 3 percent growth in the agriculture, fisheries, forestry, and rural development sector in 2022, in line with the Ministry of Agriculture and Forestry’s aim of accomplishing a domestic food production target of 70 percent in 2023.
According to a recent report, the animal husbandry industry grew by three percent, while the fishing sector recorded a four percent growth. The growth rate target set for 2022 was 0.4 percent higher than in 2021.
Officials from the Ministry of Agriculture and Forestry also mentioned the encouraging growth rate during a recent meeting where they discussed further policies that could be put in place to boost animal husbandry and fisheries and provide farmers with a steady income.
However, both these industries are still subject to numerous challenges and hence unable to meet domestic consumption needs. The government needs to address issues like livestock breeding, animal feed factories, the control of animal diseases, and other unsolved problems in its national development agenda to help in the expansion of these industries.
Lao Prime Minister, Mr. Sonexay Siphandone proposed last week that the government should double its effort to support private sector businesses to produce animal feed and fertilizers to meet the increasing demand in the agriculture industry.
Additionally, PM Sonexay added that the government is also aiming to reduce its imports and focus on strengthening local food production capability to stabilize the value of Lao Kip.
In 2022, China was Laos’ most lucrative export partner for agricultural products like cassava, bananas, and rubber. A new train was also inaugurated in December to export bananas to China.
