U.S growers see great potential of soybean in Vietnam agriculture market through a field trip titled “See For Yourself” held by Minnesota Soybean Growers Association (MSGA) last week.
Ron Obermoller and Doug Pohlman, two farmers participating in the trip, who had a chance to experience the trip by touring to two agriculture hubs of Vietnam – Red river Delta and Mekong Delta, said that “Asia market is very good. Their big market is poultry and swine. Specially, the profit margin of swine in this market is the best in the world.”
U.S soybean makes up 40 percent of Vietnam imported soybean while the rest (60 percent) comes from South Africa.
Minnesota-grown soybean is known for their higher levels of amino acids — nutrients that lead to better feed efficiency among swine and poultry – this is an advantage that helps Minnesota soybean get higher chance in this market.
In aquaculture sector, soybean makes up 40 percent of panga fish feed while fish meal takes up 5 percent. Due to high prices and depleted supply, Vietnamese panga farmers are considering alternative protein source with same efficiency and lower prices. This is a good opportunity for soybean producers.
For the complete article, click HERE.