Vietnam wheat imports seen at 2.3 million tonnes

Following are selected highlights from a report issued by a US Department of Agriculture attache in Vietnam. "Post estimates Vietnam's total wheat imports for MY 2011/2012 at 2.3 million tonnes. The volume of US wheat imports into Vietnam is expected to reach 200,000 tonnes in MY 2011/2012, and 250,000 tonnes in MY 2012/2013.
Australia still dominates the wheat import market in Vietnam. Australian wheat accounted for over 70 percent of Vietnam's total wheat imports in both MY 2009/2010 and MY 2010/2011. In CY 2011, total corn import volume dropped dramatically - by about one half - down to 950,000 tonnes. The drop was mainly due to the competitiveness of feed grade wheat prices compared to corn prices, which enticed feed manufacturers to switch from corn to wheat in order to cut production costs. US corn imports dropped in CY 2011 due to lower priced competition from other corn exporting countries and feed wheat. Imports of US DDGS increased in CY 2011, reaching 500,000 tonnes valued at $126 million.