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US Corn Mission Sees Potential In Viet Nam

16 December 2011

VIET NAM - The rapidly increasing entrepreneurial spirit witnessed in Viet Nam encouraged participants of the US Grains Council’s Corn Mission about future opportunities for US agricultural products.

Nine US producers and corn organization staff traveled to Japan, China and Viet Nam from 28 November-9 December for a firsthand look at the challenges of developing and defending export markets and to share insights on the US 2011 crop supply and quality. Participants met with international customers, key foreign government officials and the Council’s foreign-based international staff.

Viet Nam is the fastest growing feed market in Asia. Although Viet Nam mostly fills its corn needs with domestic and nearby country imports, the group still felt encouraged by the market potential.

"The drastically changing consumer habits will increase grain demand in Viet Nam. We need to continue to educate Vietnamese buyers and farmers on benefits of buying from the United States," said Pat Feldpausch, mission participant and president of the Corn Marketing Programme of Michigan. "The United States has a dependable system that provides transparency and risk management. We are a consistent supplier and buyers get better value for their purchases. Buying corn from nearby countries or from Ukraine is a risk. You may get a bargain but it’s a gamble."

The group had the opportunity to see a Council program in action at the local feed mill where USGC Consultant Dr Budi Tangendjaja was conducting a seminar on the use and application of US distiller’s dried grains with solubles (DDGS).

Paul Herringshaw, mission participant and vice chairman of the Ohio Corn Marketing Programme, said, "Viet Nam has agile users of US DDGS. It’s a good product that helps every diet. It’s a great way to move protein at a lower moisture, and it’s replacing Indian soybean meal and other competitive ingredients. We need to continue market education to increase the product moving into the country."

In 2010, Viet Nam became the 15th largest market for US agricultural products. US agricultural exports to Viet Nam grew fivefold from a mere $216 million in 2006 to $1.3 billion in 2010. Viet Nam is the 8th largest market for US feedstuffs, doubling over the past two years and valued at $151 million in 2010.



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