A Bilateral package was announced this week that includes Vietnam suspending its wheat import tariff on the United States. U.S. Wheat Associates Steve Mercer says that’s great news for the U.S wheat industry as it now puts America on a level playing field with Canada and Australia for that important market.
He says Vietnam is a potential lucrative market for U.S. wheat and there is great potential to grow that going forward.
Mercer says Vietnam is very interested in both Hard Red Spring and Soft White Wheat that U.S. growers can provide. He says they’re awaiting how much of a tariff reduction Vietnam has agreed to but they’re hoping for complete elimination of that tariff.
In the 2020 and 2021 marketing year, the U.S.. exported Hard Red Spring and Soft White Wheat that exceeded 500,000 metric tons, even with the tariffs in place. Vietnam every year averages 3 million metric tons of wheat imports.
