AsemconnectVietnam - In the first seven months of 2023, the whole country imported nearly 1.21 million tonnes of soybeans, worth of nearly 780.1 million USD, with an average price of 645.5 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, Vietnam’s soybean imports in July of 2023 reached 90,375 tonnes, equivalent to 51.97 million USD, the average price was 575 USD/tonne, down by 62.4% in volume and down by 62.9% turnover compared to June of 2023, the price decreased by 1.4%. In comparison to July of 2022, there was also a sharp decrease in both volume, turnover and price, with a corresponding decrease of 54.5%, 65.3% and 23.8%.
In the first 7 months of 2023, the whole country imported nearly 1.21 million tonnes of soybean, worth of nearly 780.1 million USD, the average price was 645.5 USD/tonne, down by 1.7% in volume, down by 8.7 % turnover and 7% decrease in price compared to 7 months of 2022.
Soybean imports from the Brazilian market in July of 2023 fell sharply by nearly 59.6% in volume and 60.7% in turnover compared to June of 2023, the price decreased slightly by 2.8%, reaching 70,969 tonnes, equivalent to 38.87 million USD, priced at 547.7 USD/tonne. Generally, in the first 7 months of 2023, soybean imports from this market reached 592,526 tonnes, equivalent to 358.21 million USD, accounting for 49% of the total volume and accounting for 45.9% of the total soybean import turnover of the whole country, down by 23.9% in volume, down by 34.7% in turnover, and the price was down by 14% over the same period last year.
Soybean imports from the US market - the second largest market in the first 7 months of 2023 reached 481,932 tonnes, equivalent to 329.89 million USD, priced at 684.5 USD/tonne, accounting for 39.9% of the total volume and accounting for 42 .3% of the country's total soybean import turnover, up by 25.7% in volume, 28.4% in turnover and 2.1% in price over the same period last year.
In addition, soybean imports from the Canadian market in the first seven months of 2023 reached 69,313 tonnes, equivalent to over 51.35 million USD, priced at 740.9 USD per tonne, up by 15.9% in volume, up by 19.7% in turnover and the price increased by 3.4% over the same period last year. The imports from Cambodia market reached 363 tonnes, equivalent to 283,550 USD, priced at 781 USD/tonne, down by 94% in both volume and value but up by 3.7% in price.
CK
Source: VITIC