US Grains Council considers expansion options in Vietnam
Vietnam is eighth-largest market for US feedstuffs
The U.S. Grains Council recently sponsored a trip to Vietnam in order to observe potential opportunities for agricultural expansion in the country, meeting with international customers and key foreign government officials regarding the 2011 U.S. corn supply and quality.
The visit also focused on Vietnam's use of U.S. distillers dried grains with solubles. "Dramatically changing consumer habits will increase grain demand in Vietnam," said Corn Marketing Program of Michigan President Pat Feldpausch, who participated in the trip. "We need to continue to educate Vietnamese buyers and farmers on the benefits of buying from the United States."
In 2010, Vietnam became the 15th-largest market for U.S. agricultural products. U.S. agricultural exports to Vietnam grew fivefold from $216 million in 2006 to $1.3 billion in 2010. Vietnam is the eighth-largest market for U.S. feedstuffs, valued at $151 million in 2010.