- Largest corn importer in Southeast Asia, over 8 MMT in 2017.
- Imports 1 MMT of feed wheat.
- Top 4 importer of DDGS in the world when unrestricted.
- Tremendous growth in commercial feed market, expected to eclipse 30 MMT.
- Forecast to become the world’s largest per capita consumer of pork by 2020.
- Population / growth: 96 million / 1.1%
- Urban / growth: 34% / 3%
- GDP(PPP) / growth: $643 billion / 6.2%
- GDP per capita: $6,900
- High commercial lending rate.
- Median age of 29 years old.
- New destination for global manufacturing sector as China’s wages increase.
- 2018 marks the 23rd anniversary since the U.S. normalized relations.
Trade and Market Share Issues
- Low market share due to poor freight spreads and moisture levels in U.S. corn.
- Relatively low buyer sophistication with high counterparty credit risk.
- Large unofficial cross border trade with China.
- Insect issue has the potential to threaten U.S. DDGS exports.
- 0% corn tariff.
- 0% tariff on CGM/DDGS.
- 100% fumigation at origin necessary for DDGS.
- Maximum 14% moisture requirement for imported corn.
- Successfully cultivates transgenic corn.