Key Market Indicators
Vietnamese soybean consumption is forecast to reach 1.1 million metric tons in 2026, a 1% increase from 1.03 million tons in 2021. Since 2017, the country's demand has grown by an average of 2.4% each year. In 2021, China overtook Vietnam in terms of soybean consumption, with 1.03 million metric tons. Japan and Pakistan were ranked second and third, respectively. Meanwhile, Vietnamese soybean production is expected to fall by 27.9% to 9.65 million metric tons in 2026 from 57.24 million metric tons in 2021. Since 1966, the country's output has decreased by an average of 18.7% per year. In 2021, German production of 57.24 million metric tons was higher than Vietnam's. The United States, Argentina and China were ranked second, third and fourth, respectively.
