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USDA GAIN: Oilseeds, Cotton, Sugar, Grain and Feed

16 April 2012

USDA GAIN: Viet Nam Oilseeds and Products Annual 2012USDA GAIN: Viet Nam Oilseeds and Products Annual 2012

In 2011, U.S. soybean (SB) exports to Vietnam reached a record 227 thousand metric tons (TMT), an increase of 26 percent over the previous year due to the operation of two new commercial oilseed crushing facilities in Vietnam in the second quarter of 2011. Post expects imports of full fat soybean to steadily increase in the next three to five years. The U.S. soybean exports are expected to double next year accordingly. Vietnam’s soybean meal (SBM) imports reached a record 3.0 million metric tons (MMT), but SBM imports are likely decrease in the coming years due to local production from these two new crushing facilities.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed


Oilseed, Soybean


Vietnam’s 2011 soybean production decreased 14 percent from the previous year to 254.2 thousand metric tons (TMT) due to prolonged and heavy rainy weather at the end of 2010 and in early 2011, along with a reduced growing area (Table 1). The scale of production remains relatively small and continues to fall far short of domestic demand. This output fell far below the 2010 target of 325 TMT, or the 2020 target of 700 TMT, set by the Ministry of Agriculture and Rural Development (MARD), due to Vietnam’s generally inferior soybean yields, high production costs, and low post harvest technology.

According to the Vietnam Feed Association (VNFA), the locally produced soybeans are not as price competitive as imported soybeans. For example, locally produced soybeans are currently quoted at Vietnamese dong (VND) 15,000 ($0.71) per kilogram (kg), while the imported soybeans cost VND12,000-VND13,000 ($0.57-$0.62) per kg.

According to official government statistics, soybeans are currently grown in twenty five of Vietnam’s sixty three provinces, with approximately 65 percent cultivated in the north and 35 percent in the south. Earlier this year the Prime Minister approved the Master Plan for development of the agricultural production sector until the year of 2020 with a vision to the year 2030. In this plan, the target set for 2020 is about an additional 100 thousand hectare (ha) for planned land soybean growing area, taking advantage of the increase of cropland for rice, which soybean crops are often rotated with. Under the Master Plan, by 2020 the cultivated area for soybeans will be about 350 thousand ha with a yield of 700 thousand tons, with a focus in the Red River Delta, midland, and mountainous areas in the North and Western Highlands.

Vietnamese scientists are continuing research on biotech and other modern soybean varieties with higher output levels and lower production costs in specific regions in Vietnam. MARD has approved three biotech crop types for field trials – corn, cotton, and soybeans. However, no companies are applying to implement Bt. soybean field trials at this time (only for Bt. corn). The field trial period is expected to last for two or three years before final approval for commercialization is granted, if a company does apply. As a result, there is no expectation that commercial production of any of biotech oilseed crops will begin in the near future in Vietnam. With Vietnam’s Plant Variety Protection System, which was set up under MARD’s Department of Crop Production in 2002, more and more crop varieties including soybeans and peanuts (mostly local varieties) have been registered and approved for plant variety protection, especially after Vietnam joined the International Union for the Protection of New Varieties of Plants (UPOV) in 2006. This factor could motivate Vietnamese scientists to continue research on better varieties. [For Table 1 and Graph 1, please download the document]


Most of the soybeans locally produced in Vietnam, along with imported soybeans, are used to meet the growing domestic demand for both human consumption and the animal feed industry. Major products using soybeans include traditional non-fermented foods such as tofu, soy milk, and soy flour for the food processing industry; smaller quantities are used for soy sauce, miso paste, the ice-cream industry, and household-scale soybean oil production. Only a small portion of the soybeans produced in Vietnam are used for animal feed. Roughly 60 percent of imported full fat soybeans went to crushing industry (for soy oil and soybean meal), 18 percent went to animal feed industry, and 22 percent to human consumption.

In 2011, commercial feed production in Vietnam grew by 8.5 percent in response to growing demand from the livestock sector. MARD estimates that the demand for locally-produced commercial feed will grow to 13,000 TMT by 2012, 16,000 TMT by 2015 and 19,000 TMT by 2020. Furthermore, local consumption demand for healthier vegetable oil, including soy oil, is growing, and zero percent tariff rate for soybean imports continues to make crushing plants an attractive investment in Vietnam. In 2011, Vietnam’s first two soybean crushing facilities began operating with total full capacity of 4,000 MT per day (see Photos 1, 2, 3, and 4). The new Bunge Vietnam crushing plant crushed a half million metric tons (MMT) of soybeans from the United States, Argentina, Brazil, and Paraguay in its first 8 months of operation starting in May 2011. Quang Minh crushing plant used about 150 TMT of soybeans, mainly from the United States and Argentina. In addition, the demand for locally produced soy oil for export to other countries in the region is slowly growing (See table 31and 32 in the Oil Section). Accordingly, Post projects the demand for imported full fat soybeans will be much higher in the coming years. [For photos, please download the document]



In 2011, Vietnam imported more than one MMT of full fat soybeans, an enormous hike of 350 percent over the previous year due to strong demand from both the food and feed sectors in the country. The import value in 2011 also reached a record of almost $550 million, a 416 percent increase over the last year. Approximately 49 percent of Vietnam’s soybean imports come from Brazil; 22 percent from the United States, 16 percent from Argentina, and the rest are sourced from Canada, Uruguay, China, and other countries (Table 2). This significant import growth is due to the operation of two new commercial scale crushing plants in Vietnam, and strong demand from both the food and feed industries.

According to local traders, more deals with U.S. soybean exporters will likely happen in 2012. Therefore, Post projects that Vietnam’s soybean imports from United States will double in 2012, up to about 500 TMT.

The total import volume of full fat soybeans should increase significantly to about 1.5 MMT in the calendar year of 2012, based on Post’s projection for the operation of Vietnam’s two oilseed crushing plants and a strong demand from both the food and feed industries.

Marketing efforts in Vietnam for U.S. soybeans and soybean meal are continuously supported by the American Soybean Association – International Marketing (ASA-IM) office in Hanoi. The USDA’s Export Credit Guarantee Program (GSM-102 program) also supported the growth of soybean imports in Vietnam (see Graph 2). The GSM-102 program started in Vietnam in late 2009, and up to now there are ten Vietnamese banks approved. There has been a meteoric rise in use of the program in Vietnam from $12.2 million in fiscal year (FY) 2009 to $92 million in FY 2011, for buying U.S. agricultural products such as cotton, soybeans, soybean meal, dried distillers grains with solubles (DDGS), wheat, and other animal feed products. [For Graphs 2 & 3 and Table 2, please download the document]


Currently, soybeans imported to Vietnam are shipped by both containers and bulk vessels, through major sea ports. However, according to local importers, the freight rate is considerably higher for container cargo than for bulk cargo. Thus, bulk import shipments of soybeans are likely more competitive and preferable for Vietnam. This logic holds as long as the crushing plants can find sustained demand for the soybean oil created by the crushing process, and keep their plants running at or near capacity.

Currently, Vietnam has three deep-water ports: 1) Phu My-Ba Ria Serece port and 2) Cai Mep Interflour port, both located on the Thi Vai River of Ba Ria, Vung Tau Province, Southern Vietnam (about 30 miles from Ho Chi Minh City); and 3) Cai Lan port in Quang Ninh Province on the Northeast coast. These ports can all handle large vessels (50,000+ tons). With its latest expansion in late 2010, the Cai Mep Interflour port should be capable of receiving Panamax-sized 75,000 DWT vessels, which will lower freight costs, thus making U.S. agricultural commodities (including soybeans) more competitive for shipment to Vietnam. In addition, local traders/importers continue investing in expanding their warehouse/storage capacity near seaports to meet the growing demand of agricultural product imports, which includes soybeans, corn and wheat etc. For example, QMC invested in constructing 20 thousand square meter (sqm) warehouse of 100 TMT capacity near the Cai Lan deep water sea port in Quang Ninh province (see Photos 5, 6, and 7), and an 8 thousand sqm warehouse to store 40 TMT of goods at Phu Thai water river port in Hai Duong province connecting with Cai Lan sea port; and a new 22 thousand sqm warehouse near Cai Mep deep wate port in Vung Tau Province able to store 120 TMT of goods. [For photos, please download the document]


Vietnam’s average import price for soybeans in 2011 was $537 per MT, about a 14 percent increase over the previous year ($472 per MT), about a 22 percent increase over 2009 ($442), but still 7 percent lower than the 2008 price ($575) (Graph 4). Local traders forecast that soybean import prices will remain high due to strong demand in the world market, rising oil/gas prices, higher ocean freight costs, and lower projected world production, especially in the United States and South American countries in the crop year 2011/2012. Import prices for grade 2 full fat soybeans were quoted $560, $580 and $605 per MT, CFR Hai Phong in January, February and March 2012, respectively. [For Graph 4, please download the document]

Import Tariffs

The tariff rate applied to soybeans (HS Code: 1201) imported from countries having Most Favored Nation (MFN) status with Vietnam remains 0 percent with 5 percent VAT. Tariff rates for other trade agreements are listed in Table 3. [For tables and graph, please download the document]


Oilseed, Peanut


According to MARD, Vietnam’s peanut production dropped by 9.5 percent in 2011 to 440.7 TMT, and the planted crop area decreased by 9.1 percent due to prolonged and heavy rainy weather at the end of 2010 and in early 2011.

In the Master Plan for development of the agricultural production sector until the year of 2020 with a vision to the year 2030, the target set for 2020 is about 150 thousand hectare (ha) for planned land peanut growing area, taking advantage of the increase of cropland for rice, which peanut crops are often rotated with, to make the cultivated area for peanuts about 300 thousand ha with an output of 800 TMT, with a focus in the North Central coast, mountainous and midland areas in the North, and the South Central Coast.

In 2012, Post expects the growing area to expand to 240 thousand ha and production to increase 20 percent to 530 TMT because farmers will be planting better varieties, although the crop area is unlikely to expand back to 2008 and 2009 levels (Table 6, Table 11). [For Tables 6 to 11, please download the document]


The majority of peanuts both locally produced and imported, are used in the snack and confectionery industries and a small amount are used in-shell for household consumption, extruded for cooking oil, or exported. Post estimates that 465 TMT of peanuts were consumed domestically in Vietnam in 2011.



In 2011, Vietnam continued to import a small amount of peanuts, both in-shell and shelled, mainly from China, India, Laos, and Thailand. Due to demand from the snack food industry, Vietnam’s total peanut imports (in-shell equivalent) reached 8,413 MT in 2011, an increase of 69 percent over the previous year. Vietnam’s 2011 imports of shelled peanuts reached 5,538 MT, equivalent to 7,366 MT of in-shell peanuts, a 68 percent increase over the previous year (Tables 7 and 8).


In 2011, Vietnam exported a small quantity of in-shell and shelled peanuts, mainly to Malaysia, Taiwan, and Thailand. Total exports of both in-shell and shelled peanuts dropped significantly in 2011 due to decreased demand (Table 9).


Meal, Soybean


Vietnam has historically produced a negligible amount of soybean meal (SBM) due to a lack of commercial crushing facilities. However, the Bunge crushing plant (3,000 MT per day capacity) and the Quang Minh Group crushing plant (1,000 MT per day capacity) each began operation in the middle of 2011 (See Commodities: Oilseed, Soybean - Photos 1, 2, 3, and 4). Reportedly, local SBM production was estimated at about 490,000 MT in 2011 and is expected to increase significantly in the coming years (see Table 14). This growing domestic SBM production reduces imports. However, demand for soy oil serves as a potential limiting factor in meal production (See Commodities: Oil, Soybean). [For Table 14, please download the document]


Almost all SBM, both locally produced and imported, is used in the animal feed and the aquaculture feed industries; only a small volume of imported soy flour is used for food (see Table 15 and Table 16). According to the American Soybean Association office in Vietnam, about 70 percent of SBM goes to hog feed, 15 percent to poultry feed, 10 percent to aquaculture feed, and 5 percent to other uses. According to local producers and traders, most of locally produced SBM is consumed for domestic animal feed industry in the country.

According to the Vietnam Animal Feed Association (VNFA), the country has currently 233 registered feed manufacturers, of which 50 are foreign-invested and 11 are joint-ventures. The remaining firms are domestic, but 60 percent of the market share is held by the foreign companies. Many local feed mills are expanding their production to meet the growing demands in the country such as the new Cargill feed mill with an additional capacity of 120,000 MT per year in Ha Nam Province (in northern Vietnam), making Cargill’s overall animal feed production capacity in Vietnam up to more than 800,000 MT of feed per year. Indonesia-owned Japfa Vietnam plans to produce one million MT of feed per year by 2015. The Thailand-owned CP group is building a new feed mill with a projected capacity of 60,000 MT per month in the Hung Yen province. Vietnam’s Hong Ha Company added a new production line to an existing feed mill with the potential to increase their capacity to 400,000 MT per year in the Ha Nam province. A joint venture between Japanese firms Sojitz and Kyodo Shiryo will invest 2 billion Japanese yen (US$25 million) to build an animal feed processing plant to produce a projected 200,000 MT annually in the Long An province (on the outskirts of Ho Chi Minh City). China’s Tongwei Co. Ltd. invested $10 million to build a livestock feed mill with an annual output of 200,000 metric tons in the Hai Duong province (northern Vietnam). The Netherlands’ De Heus LLC Vietnam has acquired its first aqua feed mill with a capacity of 100,000 MT per year in the Vinh Long province; and Greenfeed Vietnam in the north is expanding its current mill of 12,000 MT per month to 30,000 MT per month in the Hung Yen province and is building a new feed mill in the Ha Nam province. [For Graph 5, please download the document]

The Vietnamese feed industry is currently facing a number of macroeconomic challenges that are likely to continue for at least the next few years. For example, Vietnam’s inflation rate hit 23 percent in 2011, and while it has declined significantly to around 15 percent during the first quarter of 2012, it is still constraining businesses’ purchasing power. Vietnam's economy also faces challenges from low foreign exchange reserves, an undercapitalized banking sector, high borrowing costs and rapidly increasing energy costs. The latter two factors, in particular, have negatively impacted the bottom line for small to medium-sized feed mills as they respectively increase the costs of imported feed materials and operating machinery and mills. Taken together, all these factors are contributing to higher production costs for animal feed in Vietnam.

The livestock husbandry sector has been experiencing difficulties of its own, including an uptick in the prevalence of certain zoonotic diseases (foot and mouth disease in pigs and cattle; H5N1 avian influenza in poultry; blue ear disease [PRRS disease] in pigs); production losses from bad weather; and higher overall production costs due to the macroeconomic factors outlined previously. And, by extension, disease outbreaks cause additional problems for the animal feed industry. However, according to MARD, the livestock sector will recover and continue to develop in CY 2012. Post estimates that Vietnam will need about 13 million MT (MMT) of industrial animal feed (about 20 percent SBM) for the livestock sector and 3.5 MMT of fish feed (15-20 percent SBM) for the aquaculture sector in 2012.



Vietnam continues to import SBM to offset the protein shortage in the country, while local production currently meets about 14 percent of demand. Despite the government’s efforts, growth in oilseed production has fallen far short of fulfilling the country’s protein needs. Under the current tariff structure, SBM has zero import duty for imports from WTO member countries. This supports increase of SBM imports into Vietnam in 2011.

Vietnam’s 2011 SBM imports reached a record of 2.999 MMT, a 9.4 percent increase over 2010 due to surging demand from the feed industry. Post estimates SBM imports in CY 2012 (MY 2011) will decrease to 2.66 MMT with an anticipated reduction in trade of about 11 percent less than the 2011 figure, and in CY 2013 (MY 2012) to be about 2.55 MMT due to the operation of two new industrial-scale processing facilities in the middle of 2011.

In 2011, Argentina continued taking the largest market share in Vietnam and remained the largest supplier of SBM to Vietnam. Argentina’s market share accounted for 44 percent in 2011, while India’s market share was 37 percent, an increase from 29 percent in 2010.

U.S. SBM exports to Vietnam in 2011 dropped to 66 TMT, decreasing 85 percent from 2011. The U.S. market share in Vietnam was very small, accounting for only 2.2 percent, a drop from 16 percent in 2010 (Table 15), although the quality of U.S. SBM is high to compared with other sources. According to local traders, the drop in imports of U.S. SBM in 2011 could be due to several factors:

  • High prices for US SBM
  • Cheaper prices of SBM offered from Argentina and India
  • Shorter shipping time from India
  • Increase in domestic production of SBM

US SBM exports to Vietnam should rise somewhat in 2012 due to the increasing sophistication of the Vietnamese feed industry requiring good quality products, but not to 2010 levels. The local feed industry is starting to have a greater awareness of the quality of US SBM and what that means for the quality of their finished product. [For Table 15 and Graph 6, please download the document]

Vietnam also imports a small volume of full fat soybean flour (4,967 MT) for both the food and feed industries, mainly from Malaysia, Taiwan, the United States, India, and China, accounting for 99 percent of total imports (Table 16). [For Table 16, please download the document]

A small volume (638 MT) of soybean hulls (HS code: 230250) with value of $194 thousand were also imported from the United States, Japan, and China in 2011 to be used in the feed industry, especially for dairy sector.


Vietnam’s average import price for SBM in 2011 was $441 per metric ton, about 4.3 percent higher than the previous year ($423), a 6.2 percent increase over 2009 ($415), but about 1.8 percent lower than 2008 ($449) (Graph 7). [For Graph 7, please download the document]

As of late March 2012, imported prices are quoted at around $475- $485/MT CFR Haiphong and at around $490-$499 for the for U.S. SBM shipment in April 2011. These prices have all increased compared with the previous month ($450-$460). Local traders projected that the import prices could be volatile, but likely higher in next several months as demand is still high.

In the face of high prices, the feed industry in Vietnam will tend to use cheaper ingredients to lower production cost; most of the growth in feed demand is filled by less expensive products such as DDGS, copra meal, canola meal, and other meals. Table 17 shows a comparison of local prices of common feed ingredients in Vietnam. However, an increasingly large segment of the industry recognizes the value in using high-protein SBM, and will likely buy the US product if other supplies are difficult to acquire. [For Table 17 and Graph 8, please download the document]

Import Tariffs

The tax rates applied to SBM, full fat soybean flour, and soybean hulls imported from countries having Most Favored Nation (MFN) status with Vietnam have remained unchanged, see the oilseeds report from 2011. [For Production, Supply and Demand Data Statistics and Table 19, please download the document]


Meal, Copra
Meal, Cottonseed
Meal, Palm Kernel
Meal, Rapeseed
Meal, Peanut
Meal, Sunflowerseed


All imported oilseed meals are used for animal and aquaculture feed industries (See: Commodity: Meal, Soybean/Consumption).


In 2011, Vietnam imported 1.13 MMT of other oilseed meals, valued at $258 million, a 5 percent decrease in volume and 10 percent increase in value to compare with 2010 (Table 20). The tax rate applied to other oilseed meals imported from countries having Most Favored Nation (MFN) status with Vietnam remains 0 percent with a 5 percent VAT. [For Tables 20 & 21 and Graphs 9 & 10, please download the document]


Oil, Soybean
Oil, Palm Kernel
Oil, Coconut
Oil, Rapeseed
Oil, Sunflower seed
Oil, Cottonseed


Vietnam’s 2011 refined vegetable oil production was estimated by local producers at about 750 TMT for all type oils, a 7.1 percent increase over the previous year (Table 22 and Graph 11). [For Table 22 and Graph 5, please download the document]

The vegetable oil industry continues to use both domestic products (mainly sesame, peanut, and rice bran) and imported soybeans, and crude and refined oils (mainly soy and palm) for its production. Local producers and traders project that domestic vegetable oil production will increase about 7 percent in 2012 to about 800 TMT, largely due to the operation of two new industrial crushing facilities – Bunge Vietnam and Quang Minh (See Commodities: Soybean- Photos 1,2,3 and 4). These two new soybean crushing plants started production in mid-2011 and estimated domestic soy oil production in 2011 is about 124 TMT from these facilities, which includes both crude and refined soy oil (see Table 23). In 2012, the Bunge Vietnam Crushing plant is planning to produce about 170 TMT of crude soy oil and the Quang Minh crushing plant is planning to produce 60 TMT of soy oil. Total local soy oil production is projected to be 230 TMT in 2012, an 84 percent increase over the previous year, and 270 TMT in 2013. [For Table 23, please download the document]

According to MOIT, in the whole country there are 35 companies/enterprises supplying vegetable oil products for domestic market. The GVN’s Development Plan for Vietnam’s Vegetable Oil Industry up to 2020, and Vision to 2025 states that Vietnam targets to produce 1.587 MMT of refined vegetable oil and 370 TMT of crude vegetable oil of all types by 2020. Vietnam plans to develop domestic oilseed to meet with demand of local vegetable oil industry. In light of this, Vietnam plans to expand growing areas for major oilseed crops, namely soybeans, peanuts, sesame, copra, sunflower, and rice bran. MARD is charged with developing a master plan and policy for the production of oilseed crops such as soybean, peanut, sesame, etc.


Local producers estimated Vietnam’s 2011 total vegetable oil consumption at 695 TMT (Table 24). Although no official data is available for vegetable oil consumption per capita, Post projects extremely strong growth in vegetable oil production, including soybean oil, as consumption demand remain high and stable in the country for the next 15 years due to the country’s growing economy (GDP increased 6.78 percent in 2010 and 5.89 percent in 2011, with a projection of 6-6.5 percent in 2012) and marketing campaigns by local oil producers recommending people use healthier vegetable oils instead of animal fats (Graph 12). Consumer demand has been increasing. Due to higher living standards, Vietnamese consumers, not only in big cities but also in small towns and rural areas, are slowly shifting from the traditional choices of animal fats to vegetable and seed oils.

Vietnam’s vegetable oil consumption per capita was estimated to be 7.3-8.3 kg per person in 2011 per Vietnam’s Industry Policy and Strategy Institute (IPSI). However, this level was far from the World Health Organization’s recommendation of 13.5 kg per capita per year. Local producers projects Vietnam’s per capita consumption will increase to 14.5kg per person per year by 2015.

Vegetable oil products from the Vietnam Vegetable Oil Industry Corporation (VOCARIMEX) companies cover the mass and premium markets. The preferable brand names are Neptune, Mezan and Simply from the Cai Lan Oils and Fats Company within VOCARIMEX. In 2011, a new vegetable oil producer, Quang Minh Group and its Vinacommodities Company, supplied about 40 TMT of refined vegetable oils, with a variety of brand names such as Mr. Bean, Oila, Soon Soon, and Otran, of which about 20 TMT was consumed locally and 20 TMT was exported overseas to other countries like North Korea, Singapore, Indonesia, Malaysia and Hong Kong. The other producer, Bunge Vietnam, supplied about 95 TMT of crude soy oil, of which 30-35 percent was exported to South Korea and ASEAN countries.

Most imported soybean and palm oil is currently for food use; only a small volume of imported oil is used in the industrial and cosmetic manufacturing sectors. Post expects consumption to increase to 240 TMT for soybean oil and 585 TMT for palm oil in 2012. [For Table 24 and Graph 12, please download the document]


Imports of vegetable oils (both crude and refined)

Vietnam’s vegetable oil industry continues to rely on imported crude and refined oil. In 2011, Vietnam imported an estimated 734 TMT of crude and refined vegetable oils of all types, a 1.7 percent increase over 2010, to meet the growing demand (Table 25).

In 2011, the United States exports a small volume of various types of vegetable oils and fats to Vietnam (Table 26). U.S. exports decreased in 2011, likely due to more availability of locally produced soy oil.

Total crude and refined palm oil imports accounted for almost 79 percent of total vegetable oil imports and increased 8.6 percent in 2011 to 579 TMT (Tables 27 and 28).

Total crude and refined soy oil imports reached 127.5 TMT in 2010, a 31 percent drop from 2010, accounting for about 17.4 percent of total imports due to an increase of local soy oil production from new crushing plants. Only a tiny amount of other vegetable oils, including olive oil, sunflower oil, canola oil, copra oil, peanut oil etc., were imported. Post forecasts that total vegetable oil imports in 2012 will slightly decrease because locally crushed oil will fill the growth in local demand. [For Tables 25 & 26 and Graph 13, please download the document]

Imports of crude vegetable oil

Vietnam’s total crude vegetable oil imports in 2011 were an estimated 311.7 TMT, about a 9.7 percent decrease from the previous year (Table 27). Palm oil from Indonesia, Malaysia, Cambodia, and the United States accounted for almost 59 percent of total crude vegetable oil imports. Soybean oil from Argentina, Malaysia, Thailand, Brazil, and South Korea accounted for much of the remaining crude vegetable oil imports. Only a tiny amount of rapeseed, sunflower, and olive crude oils were imported. [For Table 27 and Graph 14, please download the document]

Imports of refined vegetable oil

Vietnam’s refined vegetable oil imports for 2011 increased by 12 percent over the previous year (Table 28). Palm oil imports from Malaysia, Indonesia, and other countries accounted for about 93 percent of total refined vegetable oil. Soybean oil and other vegetable oils accounted for 7 percent of total refined vegetable oil imports in 2011. [For Table 28 and Graph 15, please download the document]

Import Tariff

The most updated tax rates that apply to crude and refined vegetable oils imported from countries having Most Favored Nation (MFN) status with Vietnam are shown in the table. [For Table 29, please download the document]


Currently, there is no available official export data for vegetable oils. In previous years, VOCARIMEX companies were the main exporters of vegetables oils in Vietnam. In 2011, new producers also began exporting vegetable oil products overseas (See: Commodity, Oil/Consumption). Local producers estimated all type vegetable oil export volume at about 55 TMT in 2011.

According to the available trade data from the Global Trade Atlas, Vietnam exported over 35 TMT of all type vegetable oils with the value of over $45 million (Table 30). [For Table 30, please download the document]

According to MOIT’s Development Plan for Vietnam’s Vegetable Oil Industry up to 2020, and Vision to 2025, Vietnam hopes to export 50 TMT, 80 TMT and 100 TMT oil of all types in the in the periods of 2011-2015, 2016-2020 and 2021-2025, respectively. [For tables, please download the document]

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