Vietnam to import more soybeans from the US

According to a report from the Foreign Agricultural Service of the United States Department of Agriculture (FAS USDA), Vietnam’s soybean imports in 2025/26 are expected to rise to 2.8 million tons, an increase of 300,000 tons, as domestic processing plants expand capacity, leading to an increase in final soybean meal production. Soybean meal consumption for feed is projected to increase by 400,000 tons to 7.6 million tons, in line with growing demand. According to the service, Vietnam’s soybean production is projected to be only 45,000 tons from 26,000 hectares in 2025/26, as farmers shift to more profitable crops, fruits, and vegetables. As of August 31, Vietnam imported 1.81 million tonnes of soybeans in 2024/25. Brazil was the largest soybean exporter with a 57.2% market share, while the United States held 33.4% of the market, with Canada accounting for the remainder. According to the service’s forecasts, soybean imports from the United States increased by 29% compared to the ...