Vietnamese corn traders are turning to cheaper corn from Russia, India, Pakistan and Southeast Asia as demand from pig farming falls. Pig producers are currently facing low prices, so the demand for corn is declining.
The S&P Global Commodity Insights report said that traders will look for cheaper corn to fill the shortfall in the second quarter, or use existing stocks. Pork prices in Vietnam have been declining throughout 2022 and remained low at $2.24/kg in January 2023.
Source : Ukr Agro Consult