AsemconnectVietnam - In the first quarter of 2023, Vietnam imported 498,647 tonnes of soybeans, worth of nearly 346.58 million USD, with the average price of 695 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, Vietnam’s soybean imports in March of 2023 reached 196,771 tonnes, equivalent to 133.25 million USD, the average price was 677.2 USD/tonne, down by 15.6% in volume and down by 20.3% of turnover compared to February of 2023, the price decreased by 5.6%. In comparison with March of 2022, the figure increased by 29.3% in volume, an increase of 27.4% in turnover but a decrease of 1.5% in price.
Generally in the first quarter of 2023, the whole country imported 498,647 tonnes of soybeans, worth of nearly 346.58 million USD, with an average price of 695 USD per tonne, down by 4.9% in volume, but up by 3.7% in turnover and up by 9% in price compared to the first quarter of 2022.
The U.S was leading the list of the country’s main import markets of soybean. In March of 2023, the country’s imports of soybean from the U.S decreased by 22.7% in volume and 27.9% in turnover compared to February of 2023, the price decreased by 6.7%, reaching 119,120 tonnes, equivalent to 80.81 million USD, with the price of 678.4 USD/tonne. In general, in the first quarter of 2023, soybean imports from this market reached 329,874 tonnes, equivalent to 230.43 million USD, accounting for over 66% of the total soybean import volume and turnover of the whole country, a sharp increase of 59.3% in volume, up by 77.4% in turnover, and the price was up by 11.4% over the same period last year.
Soybean imports from Brazil - the second largest market in the first quarter of 2023 reached 135,084 tonnes, equivalent to 91.57 million USD, priced at 677.9 USD/tonne, accounting for over 27% of the total volume and accounting for 26.4% of the total soybean import turnover of the country, down sharply 51.8% in volume, down by 49% in value but the price increased by 5.8% over the same period last year.
In addition, soybean imports from the Canadian market in the first quarter of 2023 reached 27,122 tonnes, equivalent to 19.99 million USD, priced at 736.9 USD/tonne, down by 15.3% in volume, down by 5.6% in value but the price increased by 11.4% over the same period last year. ‘
The imports from Cambodia market reached 270 tonnes, equivalent to 211,300 USD, priced at 782.6 USD/tonne, down by 94% in both volume and value but up by 7% in price.
CK
Source: VITIC