Ho Chi Minh City has one of the largest soybean oil pressing complexes in Southeast Asia.

(Dan Tri Newspaper) - This complex will supply 30% of the domestic soybean meal market share, and the leaders of the Ho Chi Minh City People's Committee expect it to contribute significantly to the development of Vietnam's animal feed industry.

Over the past two decades, Vietnam's livestock industry has maintained a stable growth rate of 3-5% per year, leading to a large demand for plant-based protein sources, especially soybean meal.

According to preliminary statistics from the General Department of Customs, Vietnam's soybean consumption currently ranks 13th globally and is one of the largest soybean import markets for the US in Southeast Asia. For the 2023-2024 crop year, Vietnam needs to import approximately 2.2 million tons of whole soybeans and 5.9 million tons of soybean meal. This figure is projected to increase to 6 million tons this year.

Amidst a supply chain heavily reliant on imports, a joint venture has just completed the construction of a leading soybean oil pressing complex in Southeast Asia, located in Phu My 1 Industrial Park (Phu My Ward, Ho Chi Minh City). Vietnam Agricultural Products Trading Company Limited (VAL) – a joint venture between Bunge Group (USA) and Wilmar (Singapore) – expanded its second soybean oil pressing line with a total investment of US$100 million.

Ho Chi Minh City has the largest soybean oil pressing complex in Southeast Asia (Photo: VAL).

Mr. Nguyen Cong Vinh, Vice Chairman of the Ho Chi Minh City People's Committee, said that the expansion of this factory is proof of international investors' confidence in the city's strong and stable development prospects.

According to Mr. Vinh, the factory is expected to become a large-scale agricultural processing project in the region, supplying approximately 30% of the soybean meal market share for the domestic animal feed industry.

Representatives of the joint venture stated that both oil pressing lines can process 2.6 million tons of soybeans and produce nearly 2 million tons of soybean meal annually.

Source: https://dantri.com.vn/kinh-doanh/tphcm-co-to-hop-ep-dau-dau-nanh-quy-mo-hang-dau-dong-nam-a-20251210205324484.htm