Vietnamese Delegation Signing of U.S. Agriculture Products Including Corn

Today, Iowa welcomed over 50 members of the Vietnamese delegation to the Iowa State Capitol for the signing of five memoranda of understanding (MOUs) between the Vietnamese feed industry and private companies from the United States, focusing on increasing trade of U.S. grains including corn.  

Remarks were given by H.E. Do Duc Duy, Vietnam Minister of Agriculture and Environment, Mike Naig, Iowa Secretary of Agriculture, and Ralph Lents, Iowa Corn Promotion Board President. Two MOUs were signed specific to corn and DDGS equaling 900,000 metric tons of U.S. corn and 250,000 metric tons of U.S. DDGS.   

“Vietnam is a strategic trading partner with the United States and is a top importer of DDGS,” said ICPB President Ralph Lents. “This event showcased an increased commitment from Vietnam to purchase more agricultural products and reinforce the strong partnership between our countries. Iowa is the top corn-producing state, and we are happy to serve as host to our important trade partners.”  

Additionally, the Vietnam government is currently exploring the expansion of its E5 RON92 mandate to all grades of gasoline. This change would mean an additional 200 million gallons of new ethanol demand potential. The Ministry of Industry & Trade, the key policymaker, and regulator for fuel in Vietnam, is working towards a nationwide E10 mandate for the policy expansion, aiming to finalize a policy decision in 2025.  

Iowa Corn, in conjunction with the U.S. Grains Council, has been actively engaged in Vietnam for the past two years as they have evaluated the potential for ethanol in their country. This included hosting a high-level government delegation in Iowa last summer where we were able to showcase the benefits of using ethanol. If Vietnam moves to a nationwide E10 mandate across all grades of gasoline, this will be a huge win for Iowa’s corn farmers.    

For more information on how the Iowa Corn Promotion Board invests checkoff funds in partnerships, like the U.S. Grains Council, to increase Iowa corn grower profitability, visit https://www.iowacorn.org/corn-market-development/us-corn-exports/. 

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For More Information:

Sydney Garrett, Public Relations Manager, sgarrett@iowacorn.org, 515-225-9242