HCMC — Vietnam has imported more than eight million tons of U.S. soybeans from the 2023–2024 crop year, making it the third-largest importer in Southeast Asia and the 13th largest globally, according to the U.S. Soybean Export Council (USSEC).
The projected imports include 2.2 million tons of whole soybeans and 5.9 million tons of soybean meal. Demand for soybean meal in Vietnam is forecast to rise to six million tons by 2025.
The rising demand is driven by Vietnam’s expanding livestock and aquaculture industries. The country ranks sixth in global pork production and fourth in aquaculture output, with seafood contributing 4–5% of GDP.
Soybean products are widely used in Vietnam’s animal feed industry, supported by rising demand for protein-rich, plant-based inputs with traceable origins.
To mark 30 years of U.S.-Vietnam soybean trade cooperation, USSEC and the Partnership for Sustainable Agriculture in Vietnam (PSAV) under the Ministry of Agriculture and Environment signed a memorandum of understanding (MOU). The agreement covers agricultural trade, technical support, and sustainable farming practices, including the U.S. Soy Sustainability Assurance Protocol (SSAP).
Nguyen Do Anh Tuan, head of the International Cooperation Department at the Ministry of Agriculture and Environment, said agricultural trade between the two countries has grown steadily, with U.S. exports to Vietnam increasing by 10% annually.
Tuan said the two agricultural sectors complement each other and form part of the same supply chain. He noted that any trade actions affecting Vietnam would also impact U.S. agricultural interests.
From June 2 to 6, Do Duc Duy, minister of Agriculture and Environment, led a delegation of nearly 50 Vietnamese agencies, businesses, and associations to the U.S. The group held trade dialogues in Iowa, Ohio, Maryland, and Washington D.C., seeking to expand agricultural and timber imports and explore new technologies.
U.S. soybeans are seen as reliable due to transparent supply chains and stable delivery. Vietnam’s modernization of oilseed crushing and animal feed production facilities is expected to boost the use of U.S. raw materials.
Customs data showed that in the first quarter of 2025, the U.S. exported more than 414,000 tons of soybeans to Vietnam, valued at over US$186 million. This represents a 47% increase in volume and a 19% increase in value compared to the same period last year.
In 2024, Vietnam imported over 2.2 million tons of soybeans worth nearly US$1.1 billion.
