Vietnam: Grain and Feed Update
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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. Vietnam feed mills substituted feed wheat for corn, which more than offset declining milling wheat consumption, resulting in higher MY 2021/22 wheat consumption and imports. Post revises MY 2021/22 wheat consumption up to 4.25 MMT and imports up to 4.60 MMT. Post lowers MY 2021/22 rice production to 43.11 MMT partly due to a shrinking production area as producers shifted to cultivation of other crops. Post revises MY 2021/22 rice exports up to 6.70 MMT on steady demand and improved logistics and revises MY 2021/22 imports up to 1.40 MMT on current import pace and demands in Vietnam.