April 17, 2024

Vietnam's corn consumption to rise as livestock production expected to rebound in MY2024/25

Vietnam's feed demand was low in 2023 due to weak demand in Europe and the United States for the country's aquaculture products, according to the US Department of Agriculture's Foreign Agricultural Service (USDA-FAS).

It is expected that aquaculture and livestock production will rebound in MY2024/25, thus increasing overall feed demand and, as a result, boosting corn consumption.

As Vietnam's corn production remains uncompetitive with foreign imports, its corn imports was forecast to grow.

The country' wheat imports were forecast to decline due to market volatility. Wheat consumption in MY2024/25 was also forecast to decline due to market volatility and higher corn imports.

- FAS