Vietnamese delegation visits Iowa to pledge purchase of soybeans

June 5, 2025 | Kriss Nelson

More U.S. soybeans are destined for Vietnam. This comes after a Vietnamese delegation representing the country’s feed industry met U.S. agribusiness representatives and farmers at the Iowa State Capitol on Monday to pledge purchases of $2 billion in U.S. soybeans and other agricultural products.

“Vietnam has grown into one of our most valued partners, and we don’t take that for granted,” says Randy Miller, a farmer and former Iowa Soybean Association (ISA) president.

Of the five memoranda of understanding (MOUs) signed, $800 million of the $2 billion in total value is earmarked for Iowa farm products.

“When you choose to buy U.S. soybeans, you’re investing in more than just a commodity — you’re investing in the trust and reliability that comes with it,” Miller, a U.S. Soybean Export Council board member told the delegation.

 “That’s why we work hard every season to maintain the highest quality and ensure our soybeans reflect the pride we take in our work. Whether it’s for animal feed or food-grade products, we want you to know that Iowa farmers are dedicated to delivering value in our soybeans every step of the way.”

The agreements highlight a shared commitment to expanding trade, particularly U.S. soybeans and other grains, strengthening our international partnerships and creating new market opportunities for farmers.

“This event represents the culmination of decades of partnership and friendship between our agricultural communities,” says Brad Frisvold, international marketing manager for the Iowa Economic Development Authority. “This is a story of remarkable growth and mutual trust. Vietnam has risen to become the United States’ 10th largest agricultural export market with total exports of $3.4 billion in 2024.”

“It’s solidifying a strong, closer relationship between Vietnam and the U.S. agriculture sectors,” adds ISA Senior Director of Market Development Grant Kimberley. “Signing MOUs for soybeans, corn, ethanol, DDGs and pork is good for Iowa and U.S. farmers.”

The MOUs included purchases of U.S. soy meal equaling 1 million metric tons from AGP. The agreement is worth $400 million.

“Vietnam has become the fourth largest buyer of U.S. soybean meal,” says Craig Pietig, vice president of ag products for AGP. “It is definitely a growth market, and there is an ease of doing business there. They are familiar with U.S. products. As the growth of soybeans, soy crush expands, Vietnam is a very attractive market.”

Other MOUs to note include:

• 2,000 metric tons of U.S. soy from SB&B Foods, LLC

• 250,000 metric tons of U.S. DDGs worth $84 million from Poet

• 900,000 metric tons of U.S. corn and wheat from United Grain

Vietnam’s delegation also agreed to collaborate with the Iowa Pork Producers Association on market development efforts, signaling the future growth of U.S. pork in Vietnam.

H.E. Do Duc Duy, Vietnam’s minister of agriculture and environment, says the U.S. is a promising partner for Vietnam’s agriculture, forestry and fisheries sectors.

“It’s good to export high-quality agricultural, forestry, and fishery products to the U.S., especially plywood. Second, to build sustainable cooperation areas in agriculture, including farming machinery, livestock post-harvest technology, and tech transfer,” he says. “Vietnam is one of the countries taking global action in producing rice, coffee, cashew nuts and other products like shrimp. We’re expanding capacity to transform quality and develop sustainable agriculture. Therefore, both sides can complement each other, developing fixed and clearly bilateral agricultural value chains.”

Iowa Secretary of Agriculture Mike Naig reaffirmed Iowa’s strength in agriculture with significant production in soybeans, corn, pork, eggs, biodiesel, cattle and dairy.

“Agriculture is the backbone of Iowa’s economy,” says Naig, adding Iowa ranks second in total ag production; California, roughly 2.9 times the land mass of Iowa, ranks first.

With Iowa’s robust agricultural productivity, Naig stressed the importance of trade to the Vietnam delegation.

“With today’s MOUs, it’s great news,” says Naig. “It is a great signal showing we can build on an already strong relationship in the future.”

“We want your very strong, young, vibrant population to enjoy the benefits of the things we can produce here,” says Naig.

Naig highlighted the work and care farmers take to provide a safe and abundant supply of products in a sustainable manner.

“Our farmers balance the need for productivity by also protecting our valuable resources like our soil and water,” says Naig. “As customers, you can feel very good about buying viable products because of how they’re produced and the care the farmers give, and we will continue to have ample supplies and share with our global customers for years to come.”

Written by Kriss Nelson.

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