Vietnam: Grain and Feed Annual

Growth in Vietnam’s economy, including a rebound in tourism, is expected to fuel protein demands which will increase demand for feed grains in Market Year (MY) 2023/24. Post forecasts feed demand up to 27.7 million metric tons (MMT), a three percent year on year increase. High wheat prices are expected keep demand for wheat for feed use flat while overall imports up will increase to 4.2 MMT in MY 2023/24 due to expected higher demand for milling wheat for tourism and services. High wheat prices are also expected to increase demand for rice and corn as feed ingredient alternatives. Rice consumption is also expected to grow with both population growth the rebounding of the tourism sector. Post expects MY 2023/24 rice exports at 6.6 MMT, an increase but lower than MY 2021/2022’s high export volumes due to slightly decreased production caused by crop conversion and urbanization, and strong regional competition.