Policymakers have responded to growing dependence on feed grain imports with aggressive new policies that promote corn acreage and the use of GM seeds. It has been a good year for Vietnam's feed mills but going forward, much depends on whether or not a new government crop growing master plan succeeds.
A coincidence of factors, natural and man-made are keeping corn up to 15% more expensive than it otherwise should be. Corn was the first major input to fall in price and it now looks to take the lead in bottoming out, too. Formerly on track to go below US$3.20/bushel, a coincidence of factors, both natural and man-made is keeping corn above US$3.50/bushel and look set to do so for some time.