Expanding Markets: South Dakota Soybean Leaders Explore Opportunities in Vietnam

South Dakota soybean farmer leaders recently visited Vietnam to explore and discuss opportunities for U.S. soybeans in this growing market. Representing the South Dakota Soybean Research & Promotion Council (SDSRPC) were directors Derrick Scott, David Struck, Dawn Scheier, Mike McCranie, and Chad Schooley. Joining them were Tanner Hento of the South Dakota Soybean Association (SDSA) and Rachael Weiland of South Dakota Trade.

The delegation engaged with industry stakeholders, including feed mill operators, soybean crushers, and farmers, to better understand the opportunities and challenges of increasing U.S. soybean exports to Vietnam. As the country’s middle class continues to expand, so does the demand for protein sources such as pork, chicken, and fish. This shift, along with a move from traditional wet markets to modern retail markets, presents new avenues for U.S. soy products.

During meetings with Vietnamese importers, the South Dakota team discussed the benefits of U.S. soy, particularly its quality and sustainability. The U.S. Soy Sustainability Assurance Protocol (SSAP) was a key point of discussion, emphasizing the reliability and environmental advantages of American soybeans.

The group also visited a soy processing facility to see firsthand how imported soy is used in Vietnam’s growing feed industry. Additionally, they toured aquaculture operations, as Vietnam is one of the world’s largest exporters of farm-raised fish, further demonstrating the importance of a steady and high-quality soybean supply.

“Getting South Dakota soybeans into this market, compared to Eastern markets, offers a challenge, but our increased crush capacity in the future will likely lead to more competitive soybean meal pricing,” said Geddes farmer and SDSRPC director Derrick Scott. “Additionally, there is interest in non-GMO soybeans, which could create further opportunities for our producers.”

While the market is promising, logistical challenges remain. Infrastructure limitations and road congestion can impact delivery times, and Vietnam primarily utilizes smaller vessels and drop hatch vessels for imports.

“Stable policies would help build confidence for customers looking to buy from the U.S.,” said Dawn Scheier, an SDSRPC director from Salem. “At the same time, the quality of U.S. soybeans and the sustainability assurances we offer through the U.S. Soy Sustainability Assurance Protocol (SSAP) make us a strong and reliable supplier.”

By engaging with Vietnamese buyers and understanding their needs, South Dakota’s soybean farmers are working to strengthen relationships and position U.S. soy as a key player in this growing market. The connections made during this visit will help SD soybean farmers remain competitive in an evolving global marketplace.

To learn more, check out Strengthening U.S.-Vietnam Trade Ties.