Iowa welcomed over 50 members of a Vietnamese delegation to the Iowa State Capitol for the signing of five memoranda of understanding (MOUs) between the Vietnamese feed industry and private U.S. companies. The focus of the signing is increasing the trade of U.S. grains, including corn. Two MOUs signed were specific to corn and DDGS, equaling 900,000 metric tons of U.S. corn and 250,000 metric tons of DDGS. “Vietnam is a strategic trading partner with the United States and is a top importer of DDGS,” said Iowa Corn Board President Ralph Lents. “This event showcased an increased commitment from Vietnam to purchase more agricultural products and reinforce the strong partnership between our countries.” The Vietnamese government is also considering the expansion of its ethanol mandate from E5 to E10 for all grades of gasoline. That would mean an additional 200 million gallons of new ethanol demand potential for U.S. producers and exporters.
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