AsemconnectVietnam - In the first 5 months of 2023, the whole country imported 877,686 tonnes of soybeans, worth of nearly 587.98 million USD, with an average price of 669.9 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, Vietnam’s soybean imports in May of 2023 reached 140,895 tonnes, equivalent to 86.39 million USD, the average price was 613 USD/tonne, down by 40.8% in volume and 44.3% of turnover compared to April of 2023, the price decreased by 5.8%. In comparison to May of 2022, the figure was down by 25.9% in volume, 37.9% in turnover and 16.2% in price.
Generally, in the first 5 months of 2023, the whole country imported 877,686 tonnes of soybean, worth of nearly 587.98 million USD, the average price was 669.9 USD/tonne, down by 4% in volume, 5% in turnover and down by 0. 9% in price compared to the first 5 months of 2022.
The U.S was leading the list of Vietnam’s main import markets of soybean. In May of 2023, the country’s imports of soybean from the U.S decreased by 4.8% in volume and 8.7% in turnover compared to April of 2023, the price decreased by 4.1%, reaching 55,684 tonnes, equivalent to 35.81 million USD, priced at 643 USD/tonne. In general, in the first 5 months of 2023, soybean imports from this market reached 444,031 tonnes, equivalent to 305.46 million USD, accounting for over 50.6% of the total volume and accounting for 52% of the total soybean import turnover of the whole country, increased strongly by 33.7% in volume, 39.5% in turnover, price increased by 4.4% over the same period last year.
Soybean imports from Brazil - the second largest market in the first 5 months of 2023 reached 345,989 tonnes, equivalent to 220.39 million USD, priced at 637 USD/tonne, accounting for over 39.4% of the total volume and accounting for 37.5% of the total soybean import turnover of the country, a sharp decrease of 34.9% in volume, a decrease of 39.4% in turnover and a decrease in price of 6.9% over the same period last year.
In addition, soybean imports from the Canadian market in the first 5 months of 2023 reached 51,938 tonnes, equivalent to 38.88 million USD, priced at 748.6 USD/tonne, up by 15% in volume, 25% in turnover and increased by 8.7% over the same period last year. The imports from Cambodia market reached 320 tonnes, equivalent to 251,300 USD, priced at 785.3 USD/tonne, down by 94% in both volume and value but up by 5% in price.
CK
Source: VITIC