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AltProtein VietnamVietnam supply-side scoping study
VI
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Appendix B

B. What changed from earlier drafts

Earlier internal drafts of this project contained numbers and claims that this edition corrects. This appendix lists each one, what it was, what this edition uses, the source, and where the correction appears. Section B.5 lists the corrections that edition 1.1 makes to edition 1.0.

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  1. B.1 Markets and prices
  2. B.2 Companies and capital
  3. B.3 Rules
  4. B.4 Science and research
  5. B.5 Edition 1.1 corrections to edition 1.0

Before this edition, AltProtein Vietnam circulated internal scoping drafts. Their claims were treated as leads and re-checked (A. Method). The corrections below supersede the earlier figures everywhere. Readers who used earlier drafts should update to these values.

B.1 Markets and prices

TopicEarlier draftsThis editionSourcesWhere
Fishmeal benchmarkUSD 1,837 per t (March 2026), about USD 2,830 per t of protein2025 average USD 1,706 per t (about USD 2,625 per t of protein); August 2026 USD 2,500 per t (about USD 3,846)1,2Economics, Feed and aquafeed market, Costs and benchmarks
Displaceable fishmeal pool350 to 450 kt a yearCentral 120 to 245 kt; sourced bounds 79 to 290 kt; realistic capture by novel proteins in total 25 to 90 kt3,4,5Plays, Feed and aquafeed market
Soybean balance"41,000 t produced against 3.2 Mt imported" (2026 forecasts mixed with 2025 actuals)2025: 42,000 to 43,000 t produced, 2.61 Mt imported (98.4%); 5.70 Mt soybean meal imported; 7.2 Mt fed6Why Vietnam, Feed and aquafeed market
Aquafeed volume3.4 to 4.0 Mt (capacity times utilisation)Industry 3.9 to 4.8 Mt against USDA 6.5 Mt (2025); unresolved, not averaged7,8Why Vietnam, Feed and aquafeed market
Bran and broken rice in feed730 kt2.8 Mt of domestic supply (2025)9Feedstock data sheets
Cassava pulp1.7 to 2.1 Mt wet a yearAbout 6 Mt wet (about 1.3 Mt dry matter), derived; earlier figure fits pressed pulp only10,11,12,13Asset map, Feedstock data sheets
Region I minimum wageVND 4,960,000 a monthVND 5,310,000 a month from 1 January 202614Economics, Costs and benchmarks
Tropical cooling"May offset" Vietnam's power advantageReal but modest: about USD 70 to 180 per t of biomass, 2 to 4% of feed-protein cost; avoidable with thermotolerant strains15,16Economics, J. Science
Fuel-ethanol capacityAbout 600,000 m³ a year in six plantsNot supported by 2025 or 2026 sourcesFacilities and capacityFacilities and capacity

B.2 Companies and capital

TopicEarlier draftsThis editionSourcesWhere
Entobel financingAbout USD 36 million; IFC about USD 10 millionUSD 32.5 million: Mekong Capital 25, Dragon Capital 5, IFC 2.5 (upstream collaboration agreement)17,18,19Capital, M. Capital
Vedan glutamic acid capacity36,000 t a yearLast published nameplate 180,000 t a year (2004); neither confirmed as current20Industrial base, Facilities and capacity
De Heus and CJ Feed & Care17 CJ plants in Vietnam17 mills across five countries (deal closed 3 March 2026); De Heus lists 21 plants in Vietnam21,22Industrial base, Facilities and capacity
De Heus Vinh Long mill84,000 t a year168,000 t a year design capacity (company, 2026); 84,000 is trade press23,24Facilities and capacity
Skretting and EntobelNot recordedStrategic partnership 26 November 2025; insect-meal shrimp feed in commercial production (company claim)25Feed and aquafeed market
Ho Chi Minh City Biotechnology CenterOffers pilot fermentationService pages list agricultural and aquaculture services, not contract fermentation26L. Labs and talent
LC Foods, "Unconventional"Not foundIdentified through the retail audit27E. Directory
"Xuan Hong"An industrial chay makerTwo different firms: a cassava-starch processor in Tay Ninh, and a dried-slice brand whose owner is not identified28,27E. Directory

B.3 Rules

TopicEarlier draftsThis editionSourcesWhere
Legal basis of feed trialsArticle 11 of Decree 13/2020, 12 to 18 monthsLaw on Animal Husbandry Art 37 and Circular 94/2025; about 40 working days of agency time plus the trial; 6 to 18 months total is our estimate29,30Rules, G. Regulation
Aquafeed permitted listContent unknownCircular 16/2026 Appendix II has no raw-material section31Rules, G. Regulation
Unlisted feed materialsNo penalty notedDecree 211/2026: VND 10 to 20 million per material plus 1 to 3 months' suspension (from 5 August 2026)32Rules
Precision fermentationNot treated as GMO productsProbably "products of a GMO" under Decree 43/202633,34Rules, G. Regulation
Product-declaration design in the draft lawThree risk tiersTwo groups, per July 2026 Government press35G. Regulation
Allergen labellingCovered by guidanceNo allergen list found in Decree 111/2021 or Circular 05/2019G. RegulationG. Regulation
SandboxNo food or feed sandbox existsStill no national procedure; the Hanoi sandbox is the most concrete option36,37Rules, G. Regulation
E10 dateMandatory from 1 January 2026Mandatory nationwide from 1 June 2026 (1 January 2026 is the circular's effective date)38Outlook, O. Outlook data
Long AnMerged into Ho Chi Minh CityMerged into Tay Ninh; Binh Duong and Ba Ria-Vung Tau into Ho Chi Minh City; Binh Phuoc into Dong Nai39P. Admin map

B.4 Science and research

TopicEarlier draftsThis editionSourcesWhere
A. oryzae biomass on vinasse118.5 g/LNot a broth concentration; about 5.9 g/L in the flask on the most plausible reading40Technology fit, J. Science
A. oryzae metabolitesAflatoxin, cyclopiazonic acid, kojic acid and 3-nitropropionic acid togetherNo aflatoxin; cyclopiazonic acid and 3-nitropropionic acid are the real concerns; kojic acid is not a mycotoxin41J. Science
Precision-fermentation titer">50 g/L" as a modelled thresholdAn expert assertion; best leghemoglobin titers 3.5, 7.27 and 10.1 g/L42,43,44,45Technology fit, J. Science
DuckweedEFSA opinion supportive; "not novel" in the EU; PDCAAS 0.89EFSA could not establish safety of whole Wolffia powder (manganese, 2021) but found a Lemna protein concentrate safe (2023); "not novel" unverified; 0.89 unsupported46,47,48Technology fit, J. Science
Fish and shrimp cell linesPHT, "PHG" and PmLyO-Sf9 as ICAR-NBFGR food-relevant linesPHT is real but a serum-dependent virology line; a gill line exists but "PHG" is unconfirmed; PmLyO-Sf9 is a shrimp and insect hybrid from CUSAT49,50,51Technology fit, J. Science
Vietnamese plant-based meat research2 papers; none on extrusionAbout 6 on-topic papers; at most one extrusion study52Knowledge and talent, K. Research landscape
Vietnamese safety and quality studiesNone on RNA reduction, mycotoxins or digestibilitySome exist (spent-yeast RNA reduction, aflatoxin testing in fermented soy, in vitro digestibility); none on a novel microbial biomass; no DIAAS or PDCAAS study53,54,55Knowledge and talent

B.5 Edition 1.1 corrections to edition 1.0

Edition 1.1 (September 2026) adds Part V and corrects these edition 1.0 statements.

TopicEdition 1.0Edition 1.1SourcesWhere
Scope of the 2030 industrial feed target (30 to 32 Mt)Unclear whether aquafeed is included (OQ-127)Livestock feed only, per the feed scheme (Decision 1625/QD-TTg, December 2023), Medium confidence; the 2025 target of 24 to 25 Mt was probably missed; the balance model gives 26.4 Mt of livestock feed in 203056Outlook, Protein balance 2050, Feed and aquafeed market
Feed schemeDecision 1625/QD-TTg not citedAdded to the legal register and instruments.csv56G. Regulation
Agri-biotech schemeDecision 429/QD-TTg (2021) listed as in forceReplaced by Decision 1466/QD-TTg (31 July 2026)57G. Regulation, Y. Targets and hubs
Research intensity against ThailandAbout a quarter (OpenAIRE)About a quarter to a third (OpenAIRE 23%; OpenAlex, broader basket, about 31%)52,58Knowledge and talent, K. Research landscape
Vietnamese extrusion researchAt most one study, affiliation unverifiedNone: the one candidate (vvae080) is from a Taiwanese university; plant-based meat papers about 558J. Science, K. Research landscape
Leucaena shrimp-feed trialProbable wrong Vietnam tagGenuine Vietnamese study (Tra Vinh University) in an Indian journal58K. Research landscape
Vietnamese yeast-protein precedentNot recordedThai Duong Feed JSC ran a 2016 to 2019 national project on yeast protein for feed (120 t of liquid product; a VND 167 billion line); current status unknown59,60E. Directory, Frontier technology

Related: R. Disagreements (where sources disagree rather than an earlier draft being wrong).

Sources cited on this page

All sources (Appendix T)

  1. FM-01 World Bank. Commodity Price Data (The Pink Sheet). 2 Sep 2026
  2. FM-02 World Bank commodity series via IndexMundi. Fishmeal, Peru Fish meal/pellets 65% protein, CIF, USD per metric ton. Jan 2020
  3. FM-04 Mardiana. Aquafeeds in 2025: Disrupted by tariffs. 30 Jun 2026
  4. FM-05 Naylor, R. L., Hardy, R. W., Buschmann, A. H., et al. A 20-year retrospective review of global aquaculture. 2021
  5. FM-08 Xie, S., Niu, J., Zhou, W., et al. Developing a low fishmeal diet for juvenile Pacific white shrimp, Litopenaeus vannamei, using the nutritional value of FM as the reference profile. 2018
  6. MAC-04 USDA FAS GAIN. Vietnam: Oilseeds and Products Annual, report VM2026-0006 (Nguyen Linh). 15 Apr 2026
  7. MAC-06 Mardiana. Aquafeeds in 2025: Disrupted by tariffs. 30 Jun 2026
  8. MAC-01 USDA FAS GAIN. Vietnam: Grain and Feed Annual, report VM2026-0012. 15 Apr 2026
  9. FS-23 USDA FAS. Vietnam: Grain and Feed Annual. April 2026
  10. FS-01 Dân Việt. Việt Nam đang là nhà cung cấp lớn nhất một thứ tinh bột cho Trung Quốc, năm 2025 bán được gần 3,7 triệu tấn. January 2026
  11. FS-05 Phommakod, S., Lueangwattanapong, K., Chaiprasert, P., & Songkasiri, W. Valorization of biomaterial side streams: Kinetics of cassava pulp and its components degradation by Clostridium manihotivorum CT4T. 2026
  12. FS-06 Lerdlattaporn, R., Phalakornkule, C., Trakulvichean, S., & Songkasiri, W. Implementing circular economy concept by converting cassava pulp and wastewater to biogas for sustainable production in starch industry. 2021
  13. FS-53 Banditvong, C., Varongchayakul, S., Laosiripojana, N., et al. Production of micro and nano crystalline cellulose from waste cassava pulp. 2024
  14. COST-19 Government of Viet Nam. Decree 293/2025/ND-CP on minimum wages. 10 Nov 2025
  15. COST-50 Almeida Benalcazar E., van Winden W.A., Puiman L., et al. Single Cell Protein Production From Ethanol: Model-Based Bioreactor Operation at Industrial Scale. 2025
  16. SCI-44 Malairuang K et al. Intensive Multiple Sequential Batch SSC of Kluyveromyces marxianus SS106 from Raw Cassava Starch. 2020
  17. CAP-01 Mekong Capital. Mekong Enterprise Fund IV invested US$25 million in Entobel. 9 May 2022
  18. CAP-04 CnC-Entobel. 23 Feb 2023
  19. VCO-20 Early Warning System (Rights in Development). CnC-Entobel (IFC-46903)
  20. VCO-03 Vedan International. Milestones. undated
  21. VCO-07 Royal De Heus. Royal De Heus expands its Asian footprint with the acquisition of CJ Feed & Care. 1 Oct 2025
  22. VCO-08 Royal De Heus. De Heus successfully completes acquisition of CJ Feed & Care, marking a significant expansion in Asia. 3 Mar 2026
  23. VCO-10 Royal De Heus. De Heus expands aquaculture capabilities with new marine and cold-water fish feed mill. 22 Jul 2026
  24. IND-45 Dan Viet. Cac ong lon dau tu nha may thuc an rieng cho ca bien, ca nuoc lanh. 27 July 2026
  25. VCO-28 Skretting Vietnam. Skretting Viet Nam va Entobel hop tac chien luoc nham thuc day san xuat thuc an tom ben vung. 26 Nov 2025
  26. INF-05 HCMC Biotechnology Center, technology transfer services list. undated
  27. FORM-01 AltProtein Vietnam. AltProtein Vietnam retail field audit, Nha Trang 6 Sep 2026 and Ho Chi Minh City 16 and 20 Sep 2026, 186 SKUs, 11 stores. 6 to 20 Sep 2026
  28. ECO-39 Thanh Niên. Công ty chế biến bột mì xả thải ra môi trường. 25 Dec 2020
  29. REG-29 National Assembly. Luật Chăn nuôi 2018 (Law on Animal Husbandry 32/2018/QH14). 19 Nov 2018
  30. REG-34 MAE. Thông tư 94/2025/TT-BNNMT hướng dẫn Luật Chăn nuôi. 31 Dec 2025
  31. REG2-01 MAE. Thông tư 16/2026/TT-BNNMT quản lý giống thủy sản, thức ăn thủy sản, sản phẩm xử lý môi trường nuôi trồng thủy sản. 9 Mar 2026
  32. REG2-10 Government. Nghị định 211/2026/NĐ-CP quy định xử phạt vi phạm hành chính về chăn nuôi. 16 Jun 2026
  33. REG-18 Government. Nghị định 43/2026/NĐ-CP sửa đổi các Nghị định trong lĩnh vực bảo tồn thiên nhiên và đa dạng sinh học. 26 Jan 2026
  34. REG2-11 Government. Nghị định 43/2026/NĐ-CP (Art 37a added to Decree 69/2010; Art 5 definition). 26 Jan 2026
  35. REG2-05 Báo Chính phủ. Những điểm mới theo 4 chính sách trong dự thảo Luật An toàn thực phẩm sửa đổi. 31 Jul 2026
  36. REG2-13 National Assembly. Luật Khoa học, Công nghệ và Đổi mới sáng tạo 2025 (93/2025/QH15), Art 21 to 23. 27 Jun 2025
  37. REG2-16 Thư Viện Pháp Luật search. cơ chế thử nghiệm có kiểm soát
  38. GT-10 MOIT. Thông tư 50/2025/TT-BCT quy định lộ trình áp dụng tỷ lệ phối trộn nhiên liệu sinh học với nhiên liệu truyền thống tại Việt Nam. 7 Nov 2025
  39. GT-01 National Assembly. Nghị quyết 202/2025/QH15 về sắp xếp đơn vị hành chính cấp tỉnh. 12 Jun 2025
  40. SCI-18 Karimi S et al. Evaluation of Filamentous Fungal Biomass Cultivated on Vinasse as an Alternative Nutrient Source of Fish Feed. 2019
  41. SCI-19 Frisvad JC et al. Safety of the fungal workhorses of industrial biotechnology. 2018
  42. SCI-01 Nielsen MB, Meyer AS, Arnau J. The Next Food Revolution Is Here: Recombinant Microbial Production of Milk and Egg Proteins by Precision Fermentation. 2024
  43. SCI-03 Shao Y et al. High-level secretory production of leghemoglobin in Pichia pastoris. 2022
  44. SCI-04 Tian T et al. High-level expression of leghemoglobin in Kluyveromyces marxianus by remodeling the heme metabolism pathway. 2024
  45. SCI-05 Chen H et al. Integrated Fermentation Engineering Enables High-Level Leghemoglobin Production in Kluyveromyces marxianus. 2026
  46. SCI-28 EFSA NDA Panel. Safety of Wolffia globosa powder as a Novel food. 2021
  47. SCI-30 EFSA NDA Panel. Safety of water lentil protein concentrate from Lemna gibba and Lemna minor. 2023
  48. SCI-32 European Commission. Consultation process on novel food status (web page)
  49. SCI-10 Soni P, Pradhan PK, Sood N et al. Development, characterization and in vitro applications of a thymus cell line from Pangasianodon hypophthalmus. 2023
  50. SCI-11 Sathiyanarayanan A, Goswami M, Nagpure NS et al. Development and characterization of a new gill cell line from the striped catfish. 2022
  51. SCI-12 Anoop BS, Puthumana J et al. Immortalization of shrimp lymphoid cells by hybridizing with the continuous cell line Sf9 leading to the development of 'PmLyO-Sf9'. 2021
  52. BIB-01 OpenAIRE AMKE. OpenAIRE Graph API v1, researchProducts endpoint
  53. RD-31 Nguyen T.T.N. Influences of technological hydrolysis condition on nucleic acid content of spent brewer's yeast hydrolysate. 2018
  54. RD-61 Le T.H.Y. et al. Quality evaluation of Vietnam traditional soy sauce concerning nutritional composition and aflatoxin criteria. 2025
  55. RD-23 Vuong M.-D. et al. Functional characterization of protein from rice-based ethanol by-products for food industry use. 2025
  56. NTS-23 Prime Minister. Quyết định 1625/QĐ-TTg, Đề án Phát triển công nghiệp chế biến thức ăn chăn nuôi đến năm 2030. 15 Dec 2023
  57. NTS-35 Prime Minister. Quyết định 1466/QĐ-TTg phê duyệt Kế hoạch phát triển công nghiệp sinh học ngành nông nghiệp và môi trường. 31 Jul 2026
  58. HSC-01 OpenAlex works API, queried through the OpenAlex MCP connector (no personal identifiers sent). 2026-09-24
  59. HSC-06 US patent application US 2020/0109428 A1. Process for producing high protein biomass from starch-containing cereal materials by yeast strains. 9 April 2020
  60. HSC-07 VISTA portal, National Agency for Science and Technology Information (NASATI). Nghiên cứu sản xuất sinh khối nấm men giàu protein bằng công nghệ lên men các nguyên liệu giàu bột đường. 7 October 2021