Pork opportunities in first US ag trade mission to Vietnam

23-09-2011 | Home | News

Acting under secretary for farm and foreign agricultural services Michael Scuse will lead USDA’s first-ever agricultural trade Mission to Vietnam in the cities of Hanoi and Ho Chi Minh City from September 26-29.

Vietnam is one of the world’s fastest-growing economies and an important market for US agricultural products. Two-way agricultural, fish and forestry trade with Vietnam reached nearly $3.4 billion in 2010.

Wide range of food and ag products
Fifteen US companies representing a wide range of food and agricultural products will take part in the mission, which aims to promote US agricultural exports to Vietnam. Throughout the mission, these companies will meet with nearly 150 Vietnamese producers, importers, buyers, distributors, and investors to develop trade relationships.

“US farmers and ranchers are seeing record sales of farm goods abroad and looking forward to some of the best net incomes in decades thanks to global demand for the American brand,” said Scuse.

“Since 2006, no other major US agricultural export market has grown as quickly as Vietnam. This is a significant and growing market for U.S. producers and a driver for the American economy, helping to support more than 28,000 jobs here in the United States through exports of American products. USDA trade missions have a successful track record of helping to support US job creation and business opportunities for American food and agricultural companies. Establishing partnerships and creating opportunities for trade is how we will build an economy that continues to grow, innovate and out-compete the rest of the world.”

Officials
While in Vietnam, Scuse will meet with Vietnamese government and agricultural officials, US agribusiness, and visit agricultural production and development sites.

The Vietnam trade mission supports the strategic priorities of President Obama’s National Export Initiative (NEI), which aims to double all US exports by the end of 2014 and create millions of new American jobs.

Pork
In 2009 Vietnam’s pig numbers amounted to 27.5 million – a 34% rise in comparison to 2000. The majority of the pigs, however, are still kept in backyard production.

Pork is Vietnam’s primary meat product, accounting for about 75% of total meat consumption. USDA estimated pork imports in Vietnam declined to 24,000 metric tons of pork in 2010 (from 39,000 mt in 2009) in part due to currency depreciation and some import limiting measures.

The ministry, however, said characterised future pork export opportunities can be qualified as ‘outstanding and getting better’.

For more information about this trade mission, visit the Foreign Agricultural Service’s Vietnam trade mission web page.

Related website:
• United States Department of Agriculture (USDA)