Vietnam to import more soybeans

climbing 300,000 tonnes year on year, while soybean meal consumption for feed is projected to rise 400,000 tonnes, to 7.6 million tonnes, in line with rising demand. Vietnam must import soybeans to meet domestic needs, with just 45,000 tonnes of production from 26,000 hectares projected for 2025-26 due to farmers switching to more profitable crops such as fruits and vegetables, the FAS said. As of Aug. 31, Vietnam had imported 1.81 million tonnes of soybeans in 2024-25, the FAS noted. Brazil was the largest soybean exporter, with 57.2% market share, while the United States held 33.4%, followed by Canada. Imports of US soybeans increased by 29% compared with the same period of the previous year. The FAS revised 2024-25 soybean crushing down to 1.7 million tonnes but forecast an increase to 2.1 million tonnes in 2025-26 due to expected additional crushing volume. The FAS maintained its total feed demand estimate at 27.5 million tonnes for 2024-25, reflecting expected higher demand ...