- Largest corn importer in Southeast Asia, will surpass 7 MMT in 2016.
- Imports 1 MMT of feed wheat.
- #3 DDGS importer in MY2016 at over 1 MMT.
- Expected to become number 1 feed market in SEA in 2017.
- Forecast to become the world’s largest per capita consumer of pork by 2020.
- Population: 95.3 million
- Population growth: 0.95%
- Urban %: 33.6%
- Urban growth: 2.95%
- GDP: $552.3 billion
- GDP growth: 6.7%
- GDP per capita: $6,000
- High commercial lending rate.
- Median age of 29 years old.
- New destination for global manufacturing sector as China’s wages increase.
- 2016 marked the 21st anniversary since the U.S. normalized relations.
Trade and Market Share Issues
- Low market share due to poor freight spreads and moisture levels in U.S. corn.
- Argentina DDGS have begun flowing into the country.
- Relatively low buyer sophistication with high counterparty credit risk.
- Large unofficial cross border trade with China.
- Insect issue threatens U.S. DDGS exports.
- 5% corn tariff proposed to phase out in five years if TPP is ratified.
- Immediate 5% removal on sorghum tariff if TPP is ratified.
- 0% tariff on CGM/DDGS.
- 100% fumigation at origin necessary for DDGS.
- Maximum 14% moisture requirement for imported corn.
- Successfully cultivated their first crop of transgenic corn.
- DDGS market access currently closed.
- Recent FTA with Russia shut the window for U.S. corn imports.
Feed Grains In All Forms
Marketing Year Sep 2016/Dec 2017:View U.S. Export Data by Country
Equivalent U.S Exports 37,008,757 (MT) 30%
Value $1,735,361,339 64%
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U.S. Grains Council