Vietnam’s soybean demand has been reined in following the culling of 18% of its hog population to contain African swine fever.
Soybean meal consumption dropped to 5.4 million tonnes in 2019 and will likely to decline further in 2020 to 5.3 million tonnes. Soybean meal imports in 2019 have been estimated at 4.8 million tonnes, vs 5.15 million tonnes in 2018. Imports are likely to decline further to 4.4 million tonnes in 2020.
There are two crushing plants in Vietnam. One crushing plant in the south plans to reduce crushing capacity by 100,000 tonnes, around 7% of its total capacity.
In 2020, however crushing capacity in Vietnam will increase to 1.3 millon tonnes due to strong vegetable oil demand.
Soybean imports grew slightly from 1.8 million tons in 2018 to 1.85 million tonnes in 2019. The growth is attributed to the food sector.