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Vietnam
GDP growth in Vietnam is still astounding at 6.2%. Lower minimum wages
continue to attract foreign direct investment and imported food is becoming more
attractive as urban population grows. The US is now the 11
th
largest trading
partner with Vietnam, up from 95
th
just five years ago. We will be looking at
snacking cheese, positioned as “the same cheese you love on pizza” as a growth
opportunity in 2017.
Thailand
US dairy continues to face steep competitive pressure due to our disadvantage in
duties versus other origins, specifically NZ which is at zero percent, versus thirty
percent tariffs on US dairy. Growth opportunities are still present in both
foodservice and retail, specifically frozen yogurt and fluid milk.