Indonesia is the world's biggest producer of the edible oil used in making foods such as cakes, chocolate, and margarine as well as cosmetics, soap and shampoo, accounting for more than half of the global supply.

Vietnam's export structure in 2024 has shown a positive shift, with a reduction in raw exports and increased participation of Vietnamese products in global supply.

The Philippines is expected to import more rice in 2024 and the next year, remaining as the world’s top importer of this staple food as the El Nino, La Nina and recent typhoons have curbed domestic production.

Vietnam has enjoyed a unique opportunity to enhance its position in global supply and value chains, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Hoang Quang Phong said.