Vietnam’s 2016-2017 wheat import to surge 67% on year on strong feed demand: USDA, Hellenic Shipping News, 10 February 2017
An edited extract of the original article appears below.
Vietnam’s wheat import for the 2016-2017 marketing year (July-June) is estimated to surge 67.4% year on year to 5 million mt, largely on strong feed demand, according to the latest grain supply-demand forecast released by the US Department of Agriculture…
A strong demand from the feed industry, particularly from the aquaculture industry, such as shrimp, helped boost demand for feed wheat, sources said.
Feed wheat accounted for about 25% of the imported wheat in Vietnam, traders said…
Wheat import in Vietnam is subjected to a 5% import tariff, although Australian wheat enjoys duty-free access to Vietnam under the Australia-Vietnam Free Trade Agreement, which became effective since January 2016.
Consequently, Australian wheat will continue to dominate Vietnam’s wheat market, although the variant’s market share has fallen from 70% in the 2014-2015 marketing year to about 40% in 2015-2016, according to USDA’s Foreign Agricultural Services report in September 2016.
In the calendar year 2016, Vietnam imported 1.63 million mt of Australian wheat, up 44.2% year on year, according to Vietnam’s custom data released in mid-January. The rise in 2016’s import volumes was because of competitive pricing and TFA agreement, traders said.
- To view the original and unedited article, click onto Vietnam’s 2016-2017 wheat import to surge 67% on year on strong feed demand: USDA.
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