Vietnam: Food Processing Ingredients Annual

  |   Attaché Report (GAIN)   |   VM2024-0005
Vietnam’s food processing industry comprises some 11,000 companies, valued at $73.8 billion in 2023. Growth in 2023 was 6.1%, down from a blistering 8.8% in 2021 and 2022. By contrast, food retail (valued at $68.5 billion) saw growth of 11.4% and food service and accommodation sales (valued at $27.3 billion) saw growth of 14.7% due to a rebound in tourism. Overall imports of consumer-oriented products reached $13.45 billion in 2023, increasing by 5% over 2022. Imports of U.S. consumer-oriented products declined by 7% during that same time, mainly due to a tariff disadvantage relative to competitor countries. Strong prospects for food processing ingredients include tree nuts, meat, bakery ingredients, dairy products, fresh and dried fruit, wheat, soybeans, and potatoes.

Related Reports

Attaché Report (GAIN)

Turkiye: Turkiye Restricted Poultry Meat Exports

According to a decision by the Ministry of Commerce, chicken meat exports, including whole chicken and its cuts, are limited to a maximum of 10,000 metric tons (MT) per month from May 1-December 31, 2024, and 80,000 MT in total by the end of the year.
Attaché Report (GAIN)

Bulgaria: Grain and Feed Market Update

Bulgaria has enjoyed favorable weather so far in MY 2024/25 that has supported the positive development of both winter and spring grains. Currently, FAS/Sofia estimates the MY 2024/25 wheat crop at 6.9 million metric tons (MMT), slightly above last year's crop.
Attaché Report (GAIN)

Costa Rica: Costa Rica Slashes Rice Tariffs Again

On June 4, a Costa Rican court restored the Chaves administration's policy of dramatically lower tariffs on imported milled and rough rice, overturning an earlier court ruling that reversed the lower tariffs in April 2024.