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In 2023, feed demand was low due to weak demand in Europe and the United States for Vietnamese produced aquaculture products. Post expects aquaculture and livestock production to rebound in the in MY 2024/25 increasing overall feed demand and as a result also increasing corn consumption. As domestic corn production remains uncompetitive with foreign imports, corn imports are forecast to grow Wheat imports are forecast to decline due to market volatility.

For MY 2024/25, Post estimates that wheat area harvested will total 195,000 hectares (ha), a 2.5 percent decrease from MY 2023/24 to due to high input costs and low prices. Wheat production will reach 1.17 million metric tons (MMT).

In the first half of 2023, the Vietnam livestock and aquaculture industry faced numerous challenges which reduced feed demand including escalating input costs, African Swine Fever (ASF), market price volatility, weak demand, and intense competition from imported products.

Chile is the second-largest South American market for U.S. agricultural products. Solid political institutions and a stable macroeconomic environment, combined with high consumer purchasing power, make Chile a lucrative market for U.S. producers of wheat, cheese, pet food, alcoholic beverages, and other consumer-oriented products.

The 2023 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2023 calendar year.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

Growth in Vietnam’s economy, including a rebound in tourism, is expected to fuel protein demands which will increase demand for feed grains in Market Year (MY) 2023/24. Post forecasts feed demand up to 27.7 million metric tons (MMT), a three percent year on year increase.

In marketing year (MY) 2023/24, Post forecasts wheat area harvested will reach 215,000 hectares (ha) and production will total 1.32 million metric tons (MMT), unchanged from MY 2022/23 as production was limited by the high costs of inputs.

High production costs, price instability and lingering disease threats discouraged livestock production which has kept overall 2022 feed demand flat compared to the previous year. Due to high corn prices as well as flat feed demand, Post revises its marketing year (MY) 2021/22 corn consumption down to 13.80 million metric tons (MMT) and imports down to 9.20 MMT.

Post forecasts overall feed demand to grow in calendar years 2022/23 on par with local livestock and aquaculture production growth. Post forecasts marketing year 2022/2023 (MY 2022/23) wheat imports to decline to 3.90 million metric tons (MMT) due to the war in Ukraine causing high costs and reduced supply of wheat.

The 2021 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world.

Vietnam is an emerging economy in Southeast Asia that has experienced rapid growth and development during the last few decades. As has historically been the case in many countries, growth in animal-based protein consumption has gone hand-in-hand with this economic development.