The state of Iowa signed five memoranda of understanding (MOUs) this week between the Vietnamese feed industry and private companies from the United States, including two specific to corn and the ethanol co-product distiller’s dried grains with solubles (DDGS) equaling 900,000 metric tons of U.S. corn and 250,000 metric tons of U.S. DDGS.

Iowa welcomed over 50 members of the Vietnamese delegation to the Iowa State Capitol for the signing and remarks were given by H.E. Do Duc Duy, Vietnam Minister of Agriculture and Environment, Mike Naig, Iowa Secretary of Agriculture, and Ralph Lents, Iowa Corn Promotion Board President.

Additionally, the Vietnam government is currently exploring the expansion of its E5 RON92 mandate to all grades of gasoline. This change would mean an additional 200 million gallons of new ethanol demand potential. The Ministry of Industry & Trade, the key policymaker, and regulator for fuel in Viet Nam, is working towards a nationwide E10 mandate for the policy expansion, aiming to finalize a policy decision in 2025.

Iowa Corn, in conjunction with the U.S. Grains Council, has been actively engaged in Vietnam for the past two years as they have evaluated the potential for ethanol in their country. This included hosting a high-level government delegation in Iowa last summer where we were able to showcase the benefits of using ethanol. If Vietnam moves to a nationwide E10 mandate across all grades of gasoline, this will be a huge win for Iowa’s corn farmers.