Vietnam wheat imports grows 70% year-on year

Vietnam’s wheat imports for marketing year ending June 2017 is estimated to surge 67.4% year-on-year to 5 million tonnes, largely on strong feed demand, according to the US Department of Agriculture. USDA’s projection for Vietnam’s wheat import is also seen to rise sharply from its estimate of 3.6 million tonnes for January. 
Hellenic Shipping News reported that strong demand from the feed industry, particularly from the aquaculture industry, such as shrimp, helped boost demand for feed wheat. Feed wheat accounted for about 25% of the imported wheat in Vietnam. Australian wheat will continue to dominate Vietnam’s wheat market, although its market share has fallen from 70% in 2015 to about 40% in 2016, said the report.

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