VIETNAM’S CORN CONSUMPTION GROWING
Corn consumption in Vietnam is expected to grow with an uptick in feed demand during marketing year 2024-25. The GAIN report, released April 11, said total corn consumption is forecast to reach 14.1 million tonnes, including 12.7 million tonnes for feed and residual use and in line with total feed demand forecasts. The FAS lowered its 2023-24 forecast for corn consumption to 13 million tonnes, including 11.5 million tonnes for feed and residual due to higher imports of feed wheat. Feed demand for 2024 is forecast at 26.5 million tonnes. Continued growth in animal feed and aquafeed demand are seen pushing total feed demand to 27 million tonnes in 2025.
Corn production in 2024-25 is projected to be 3.65 million tonnes. Imports are seen at 11 million tonnes for 2024-25. Vietnam imports all of its wheat to meet its total consumption needs. The FAS projects imports to be 4.5 million tonnes in 2024-25. Wheat demand is forecast at 4.25 million tonnes in 2024-25. At 27 million tonnes, milled rice production will be higher than anticipated in 2024-25. FAS anticipates flat production the coming years due to government plans to not expand production area. Rice consumption at 21.85 million in 2024-25 is projected to be up slightly from 21.8 million tonnes year on year, based on increased demand for feed use as well as population and tourism growth, the FAS said.
(Link: WorldGrain)
TAIWAN SOYBEAN IMPORTS REBOUNDING
After feed demand weakened last year in Taiwan due to animal diseases, consumption is expected to rebound in the 2023-24 marketing year, leading to higher soybean imports, according to a report from FAS. Soybean imports are projected to increase by 3.5%, to 2.65 million tonnes. Taiwan faces several obstacles regarding soybean imports. Logistics issues in both the Panama Canal and Red Sea region have made receiving bulk shipments from the United States, one of its biggest soybean suppliers, challenging.
(Link: WorldGrain)
