AsemconnectVietnam - In the first 6 months of 2023, Vietnam imported nearly 1.12 million tonnes of soybeans, worth of nearly 728.13 million USD, with an average price of 651.2 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, Vietnam’s soybean imports in June of 2023 reached 240,419 tonnes, equivalent to 140.15 million USD, the average price was 583 USD/tonne, up by 70.6% in volume and up by 62 .2% of turnover compared to May of 2023, but the price decreased by 4.9%. In comparison to June of 2022, it also increased by 107.6% in volume, increased by 63.9% in turnover but decreased by 21% in price.
In the first 6 months of 2023, the whole country imported 1.12 million tonnes of soybeans, worth of nearly 728.13 million USD, the average price was 651.2 USD/tonne, up 8.4% in volume, up by 3.4% turnover but decreased by 4.6% in price compared to the first 6 months of 2022.
The US market was leading the list of the country’s main soybean import markets. In June of 2023, the country’s imports of soybean from the U.S continued to plummet by nearly 58% in both volume and value compared to May of 2023, the price decreased slightly by 0.03%, reaching 23,466 tonnes, equivalent to 15.09 million USD, priced at 642.9 USD/tonne. In general, in the first 6 months of 2023, Vietnam’s soybean imports from this market reached 467,497 tonnes, equivalent to 320.55 million USD, accounting for 41.8% of the total volume and 44% of the total soybean import turnover of the whole country, increased sharply by 28.3% in volume, 32% in turnover, the price increased by 2.9% over the same period last year.
Soybean imports from Brazil market - the second largest market in the first 6 months of 2023 reached 521,557 tonnes, equivalent to 319.35 million USD, priced at 612.3 USD/tonne, accounting for 46.7% of the total volume and accounting for 43.9% of the country's total soybean import turnover, down by 14% in volume, by 23.7% in turnover and by 11.3% in price over the same period last year.
In addition, soybean imports from the Canadian market in the first six months of 2023 reached 65,104 tonnes, equivalent to over 48 million USD, the price was at 737.2 USD per tonne, up by 23% in volume, by 28.4% in turnover and the price increased by 4.4% 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 95% in both volume and value but up by 4.4% in price.
CK
Source: VITIC