Browse Data and Analysis

Vietnam’s cotton imports for marketing year 2024/25 (MY 2024/25) are estimated at 6.8 million bales, up 4 percent over MY 2023/24 based on an expected recovery in global demand for textiles and garments by late 2024.

The Government of Vietnam (GVN) issued Decree 144/2024/ND-CP on November 1, 2024, lowering Most-Favored-Nation (MFN) tariff rates on soybean meal to one percent from two percent. The Decree will enter into force on December 16, 2024.

Post projects a slight increase in fresh apple production in Marketing Year (MY) 2024/25, forecast at 488,000 metric tons (MT), while pear production is expected to decrease to 655,000 MT from the previous year.

The Government of Argentina (GOA) approved five new genetically engineered (GE) events in late 2023 and 2024, including one cotton, two soybean, and two corn events. In 2024, the first three applications were submitted for joint assessment by the agricultural regulatory agencies of Argentina and Brazil under the Cooperation Agreement on Biosafety of Modern Biotechnology Products, signed in 2022.

In 2024, Argentina's dairy production faced significant challenges, primarily due to severe weather and economic issues which led to a projected 7 percent decline in milk output, estimated at 10,708 metric tons (MT).

Post increases marketing year (MY) 2024/2025 soybean production to reach 52 million metric tons (MMT), up 1 MMT higher than USDA official and Post’s previous estimate on 17.2 million hectares (MHA) harvested as producers shift to more soy away from corn over fears of the impact of corn stunt (leafhopper/Chicharrita) in corn, continued low prices, and expected dry conditions.

Argentine wheat production in marketing year (MY) 2024/2025 is estimated at 18 million tons (MMT) with exports (including wheat flour in its wheat equivalent) at 12 million tons, slightly above USDA official.

This report provides an unofficial translation of Vietnam's Government Decree 120/2024, issued on September 30, 2024.

Growth in the agricultural sector slowed in the first nine months of 2024 due to extreme weather, particularly Typhoon Yagi, which severely affected crop cultivation and livestock farming.

Post projects 2025 Argentine chicken meat production to rise to 2.55 million metric tons (MMT), while exports are projected at 180,000 metric tons as the Chinese market remains closed to Argentine exports.

Vietnam’s food retail market consisted of over 665,000 outlets generating sale revenue of $55 billion in 2023, up four percent compared to 2022. Although the global economic downturn has slowed growth, key retailers remain optimistic about the potential of Vietnam's retail market.

Post maintains Vietnam’s soybean meal consumption forecast for the marketing year (MY) 2023/24 at 5.85 million tons, aligned with feed consumption. It expects consumption to rise to 6.1 million tons in 2024/25 due to increased demand for animal and aquafeed.