Tariff disadvantages undercut US beef trade with Vietnam
Vietnam beef imports grew 24% over last 3 years
24 November 2023
1 minute read
By: Global beef exports to Vietnam, excluding beef from India and Hong Kong, have grown by an average rate of 24% over the past 3 years, from $217 million in 2020 to $335 million in 2022, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report.
Tariff disadvantages remain a critical issue that has reduced the competitiveness of US beef in the Vietnam market.
Vietnam is a growing market for beef and beef products, with demand driven by numerous factors including a growing population, economic growth, widening integration with global economies through free trade agreements, rising income per capita, and expanding modern retail and food service channels.
Despite efforts to improve beef quality and production, local beef supply has yet to meet growing market demand, providing opportunities for imported beef.
