Vietnam: Grain and Feed Annual

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. MY 2024/25 wheat consumption is also forecast to decline also due to market volatility and higher corn imports. Rice production in 2023 was higher than anticipated due to favorable weather conditions, however, Post anticipates flat production the coming years due to government plans to not expand the area of production. Post forecasts that flat production combined with sustained export demand and steady consumption growth will keep imports higher than the trends of recent years.