- Largest animal feed market in Southeast Asia, over 30.1 MMT in 2021.
- Largest corn importer in Southeast Asia, over 11 MMT in 2021.
- Utilizes 5 MMT of rice bran annually – for feed usage.
- 2nd largest importer of DDGS in the world in 2021 at 1.44 MMT.
- Tremendous growth in commercial feed market, expected to eclipse 35 MMT.
- ASF is transforming the swine industry from back yard operations to large modern commercial farms.
- Median age of 31.9 years old.
- Vietnam’s GDP growth in 2021 is expected to expand by only 2.3% due to the impact of the latest Covid-19 waves.
- New destination for global manufacturing sector as China’s wages increase.
- 2020 marked the 25th anniversary since the U.S. normalized relations.
Trade and Market Share Overview
- Low market share due to exporters preferred S.A. trade lane and high moisture levels in U.S. corn.
- Relatively low buyer sophistication with high counterparty credit risk.
- Large unofficial cross border trade with China on all sectors.
- Insect issue has the potential to threaten U.S. DDGS exports.
- More outstanding GM events were approved in 2020.
- NRT 190 and CFS regulations have been eliminated in 2020.
- Detections of Canadian Thistle has threatened a market closure of soybeans and wheat.
- 2% corn tariff, recently reduced from 5%.
- 0% tariff on CGM/DDGS.
- 100% phosphine gas fumigation at origin necessary for DDGS.
- Vietnam is one of the few GMO cultivating countries in Asia.