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Which market supplies the most soybeans to Vietnam in 2023? 

 Tuesday, January 23,2024

AsemconnectVietnam - In 2023, Vietnam imported over 1.86 million tons of soybeans, worth nearly 1.17 billion USD, with an average price of 629.4 USD/tonne, an increase of 1.1% in volume, a decrease of 8.3% in turnover.

According to statistics from General Department of Customs, soybean imports in December 2023 reached 203,220 tonnes, equivalent to 121.04 million USD with an average price of 595.6 USD/tonne, a sharp increase of 348.4% in volume and 300.2% in turnover compared to November 2023, price decreased by 10.8%; Compared to December 2022, a slight increase of 0.05% in volume but a decrease of 12% in turnover and a decrease in price of 12%.
In 2023, the country imported over 1.86 million tonnes of soybeans, worth nearly 1.17 billion USD, with an average price of 629.4 USD/tonne, up 1.1% in volume, but down 8.3% in turnover and a decrease of 9.3% in price compared to 2022.
Soybeans imported to Vietnam from Brazilian market was the most; in December 2023 increased sharply by 31.8% in volume and 16.4% in turnover compared to December 2022, but the price decreased by 11.7%, reached 92,273 tonnes, equivalent to 55.28 million USD, priced at 599 USD/tonne.
Overall, in 2023 soybean imported from this market reached 987,569 tons, equivalent to 586.08 million USD, accounting for 53.2% of the total volume and 50.1% of the country's total soybean import turnover, down 7% in volume, down 20.7% in turnover and down 14.7% in price compared to 2022.
Soybean import from the US market - the second largest market in 2023 - reached 677,749 tons, equivalent to 450.72 million USD, priced at 665 USD/tonne, accounting for 36.5% of total volume and 38.5% of total turnover. The country's total soybean import turnover increased by over 14% in volume and 10.4% in turnover but price decreased by 3.1% compared to 2022.
In addition, soybean imports from Canadian market in 2023 will reach 107,626 tons, equivalent to over 78.38 million USD, priced at 728.2 USD/ton, an increase of over 20.2% in volume and an increase of 18% in turnover compared to the previous year. same period last year but prices decreased slightly by 1.8%. Imports from the Cambodian market reached 14,592 tons, equivalent to 10.88 million USD, priced at 745.9 USD/ton, a sharp decrease of 34.8% in volume, 38.7% decrease in turnover and 6% decrease in price.

Source: Vitic/ congthuong.vn
 

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