U.S. Pork Industry Partnerships on Display in Vietnam
U.S. pork and soybean representatives joined USMEF in Vietnam earlier this month to study U.S. pork’s market potential and participate as judges in a chef competition sponsored by Indiana Soybean Alliance and Indiana Corn Marketing Council.
USMEF Vietnam Representative Le Van Anh Tu and ASEAN Director Sabrina Yin led the pork and soybean groups on tours of a wet market, retail outlets and restaurants in Ho Chi Minh City and Hanoi to show the groups some of the opportunities and challenges in developing the Vietnamese market for U.S. pork.
Even though Vietnam continues its struggle with African swine fever, first discovered in Vietnam’s pig population in 2019, pork production is returning to previous levels. Meanwhile, competition has intensified from pork-exporting countries as suppliers from Russia and the European Union benefit from favorable tariffs under free trade agreements while U.S. pork is tariffed at 10%. Low-cost product from Brazil has also become a factor in Vietnam.
On the plus side, pork remains the number one protein choice among Vietnamese consumers and U.S. products are viewed very favorably. As the economy and middle class grow, and as modern retail outlets and fine dining establishments continue to expand, opportunities for U.S. pork will emerge, particularly as a high-quality protein option.
