AsemconnectVietnam - In the first 9 months of 2023, Vietnam imported over 1.47 million tonnes of soybeans, worth of over 934.98 million USD, the average price was 635.4 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, soybean imports in September of 2023 reached 97,006 tonnes, equivalent to 58.24 million USD, the average price was 600.4 USD/tonne, down by 41.6% in volume and turnover decreased by 39.7% compared to August of 2023, but the price increased by 3.2%. In comparison to September of 2022, it also decreased by 14.9% in volume and 27.3% in turnover and price decreased by 14.5%.
In the first 9 months of 2023, the whole country imported over 1.47 million tonnes of soybean, worth of over 934.98 million USD, the average price was 635.4 USD/tonne, up by 5.3% in volume, but down by 4.5% in turnover and 8.9% decrease in price compared to the first 9 months of 2022.
Brazilian market was leading the list of Vietnam’s main soybean import markets. In September of 2023, the country’s imports of soybean from Brazil decreased sharply by 53.3% in volume and decreased by 52.8% in turnover compared to August of 2023, the price increased slightly by 1%, reaching 66,828 tonnes, equivalent to 38.24 million USD, the price was 572.2 USD/tonne. Overall, in the first 9 months of 2023, soybean imports from this market reached 802,311 tonnes, equivalent to 477.49 million USD, accounting for 54.5% of the total volume and 51.1% of the total soybean import turnover of the country, down by 7.7% in volume, down by 21.7% in turnover, and the price was down by 15.2% over the same period last year.
Soybean imports from the US market - the second largest market in the first 9 months of 2023 reached 521,360 tonnes, equivalent to 355.8 million USD, priced at 682.4 USD/tonne, accounting for 35.4% of the total volume and accounting for 38 % of the country's total soybean import turnover, up by 17.4% in volume, up by 17.7% in turnover and the price was up by 0.3% over the same period last year.
In addition, soybean imports from the Canadian market in the first 9 months of 2023 reached 80,666 tonnes, equivalent to over 60 million USD, priced at 743.8 USD/tonne, up by 6% in volume, up by 7% in turnover and the price increased by 0.9% over the same period last year. While the imports from the Cambodian market reached 453 tonnes, equivalent to 351,050 USD, priced at 774.9 USD/tonne, a sharp decrease of nearly 93% in both volume and turnover but an increase of 2.8% in price.
CK
Source: VITIC