Last year, Southeast Asian farms offered a lifeline to U.S. grain exporters woun...
Southeast Asia’s mix of large population, sprawling cities, fast-growing economies and limited feed crop production have helped fuel a near-25% expansion in its corn and soymeal imports in the past five years.
The U.S. Soybean Export Council is one such body. It has helped promote sales of American farm products across the region as part of its ‘What it Takes’ strategy, designed at least partly to offset lost sales to China. According to two traders who sell U.S. and South American crops into the region, corn and soymeal purchases are expected to drop by roughly 1 million tonnes each this year in Vietnam alone. The traders declined to be identified because they are not authorized to speak to media.
Meanwhile Thailand - the world number five soymeal importer - this month began culling pigs amid heightened fears of a potential outbreak of African swine fever after the death of two hogs without explanation in a province close to swine fever-hit Myanmar earlier this month.For now, industry watchers say Asia’s farmers and U.S. grain exporters will need to strap in for a bumpy ride.
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