AsemconnectVietnam - According to the preliminary statistics figures of the General Department of Customs, Vietnam’s imports of corn of all kinds in the first 10 months of 2023 reached nearly 7.75 million tonnes, worth of nearly 2.36 billion USD, the average price was 304.6 USD/tonne, an increase of 2 3% in volume, but down by 11.3% in turnover and 13.4% in price compared to the first 10 months of 2022.

In October of 2023 alone, the figure reached 1.24 million tonnes, equivalent to 330.43 million USD, the average price was 266 USD/tonne, up by 7% in volume and 3.9% in turnover compared to September of 2023, but the prices decreased by 2.9%. In comparison to October of 2022, it increased sharply by 37.3% in volume, increased by 12.3% in turnover but decreased by 18.2% in price.
Brazil was the largest market supplying corn to Vietnam in the first 10 months of 2023, accounting for 38% of the total volume and 37.9% of the country's total corn import turnover, reaching 2.95 million tonnes, equivalent to over 893.67 million USD, the price was at 303.4 USD/tonne, a sharp increase of 408% in volume, an increase of 365.4% in turnover but a decrease of 8.4% in price compared to the first 10 months of 2022.
The second largest market was Argentina. In the first 10 months of 2023, the country’s imports of corn from Argentina reached 2.95 million tonnes, equivalent to 884.82 million USD, priced at 300.4 USD/tonne, accounting for over 38% of the total volume and 37.5% of the total value. The country's corn import turnover plummeted 41% in volume, 50% in turnover and 15% in price compared to the first 10 months of 2022.
The next was the Indian market. In the 10 months of 2023, the country’s imports of corn from India reached 1.18 million tonnes, equivalent to 366.1 million USD, priced at 309.9 USD/tonne, accounting for over 15% of the total corn import volume and turnover of the whole country, increased sharply by 74.2% in volume, increased by 63.5% in turnover, but price decreased by 6.1% over the same period last year.
CK
Source: VITIC