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No significant changes are made to the cotton supply and demand outlook. The 2023/24 cotton production forecast is unchanged at 6.5 million bales, total use is 10 million bales, and the import forecast remains 4.2 million bales.
MY 2023/24 coffee production is lowered 3.8 million bags to 27.5 million bags due to unfavorable weather conditions as a result of climate change and El Nino climate patterns.
Vietnam is a growing market for beef and beef products, with demand driven by numerous factors including a growing population, economic growth, widening integration with global economies through free trade agreements, rising income per capita, and expanding modern retail and food service channels.
The Department of Plant Protection (DPP) stopped imports of genetically engineered (GE) soybeans and canola in late October 2022. DPP said that importers needed an import license from the Ministry of Climate Change (MOCC).
This report provides updated information about the adoption of agricultural biotechnology in Vietnam. In the first six months of 2023, Vietnam approved six outstanding biotech corn hybrids for cultivation after the country suspended its appraisal process since 2017.