Vietnam to import first U.S. corn shipments
Vietnam will soon import its first shipments of U.S. corn, according to the Washington-based U.S. Grains Council.
The 5,000-metric-ton order was made by Lai Thieu, a private company with three feed mills in Vietnam. The company has imported U.S. distiller’s dried grains and U.S. soybean meal, and has sales volumes reaching 30,000 tons a month.
“We are very excited to see the contract for the July-August delivery purchase,” said U.S. Grains Council Chairman Davis Anderson, in a statement. “U.S. corn is quite competitive right now and there is no Chinese corn available for import.”
Vietnam produces about 4.5 million tons of commercial feed a year, with the potential to reach 10.5 million tons as the livestock sector continues to commercialize. Domestic corn production in Vietnam is 3 million tons, nearly all of which goes into feed. An additional 200,000 to 250,000 tons of corn is being imported for feed.
The U.S. Grains Council, which recently sent its representatives to Vietnam and China, estimates that Vietnam’s demand for corn imports could grow 8 percent a year.
“Vietnam is in a deficit situation when it comes to corn and we have been there working to capture that demand as it develops,” Anderson said.