AsemconnectVietnam - 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, an increase of 2 3% in volume, but down by 11.3% in turnover compared to the first 10 months of 2022, showed the preliminary statistics figures of the General Department of Customs.

Also in the first 10 months of 2023, Vietnam's imported wheat volume reached nearly 3.74 million tonnes, equivalent to over 1.29 billion USD, an increase of 10.4% in volume, but a decrease of 1.1% in turnover compared to 10 months of 2022.
In the first 10 months of 2023, Vietnam imported over 1.61 million tonnes of soybeans, worth of nearly 1.02 billion USD, with an average price of 632.6 USD/tonne.
Vietnam’s imports of corn in October and the first 10 months of 2023
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.
Leading corn import markets in October and the first 10 months of 2023
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.
Vietnam’s wheat imports in October and the first 10 months of 2023
In the first 10 months of 2023, Vietnam's imported wheat volume reached nearly 3.74 million tonnes, equivalent to over 1.29 billion USD, an increase of 10.4% in volume, but a decrease of 1.1% in turnover compared to 10 months of 2022.
According to the preliminary statistics figures of the General Department of Customs, in October of 2023, the country imported 414,633 tonnes of wheat, equivalent to 130.37 million USD, the average price was 314.4 USD/tonne, an increase of 84% in volume and an increase of 88.4% of turnover compared to September of 2023 and the price increased by 2.4%. In comparison to October of 2022, the figure also increased 183% in volume, increased 108% in turnover but decreased 26.5% in price.
Overall, in the first 10 months of 2023, the country's imported wheat volume reached nearly 3.74 million tonnes, equivalent to over 1.29 billion USD, an increase of 10.4% in volume, but a decrease of 1.1% in turnover compared to the first 10 months of 2022, the average price reached 345.5 USD/tonne, down by 10.4%.
In October of 2023, wheat imports from the main market Australia continued to decrease by 12.9% in volume and 9.2% in turnover compared to September of 2023, but the price increased by 4.2%, reaching 146,726 tonnes, equivalent to 47.21 million USD, the price reached 321.8 USD/tonne. In comparison to October of 2022, it increased sharply by 61.4% in volume, increased by 21.8% in turnover but decreased by 24.5% in price.
Leading wheat import markets in the first 10 months of 2023
In the first 10 months of 2023, wheat imports from the Australian market accounted for 69% of the total volume and 68.2% of the country's total wheat import turnover, reaching nearly 2.58 million tonnes, equivalent to 881.14 million USD, the average price reached 341.8 USD/tonne, up by 3.6% in volume, but down by 8.3% in turnover and down by 11.5% in price compared to the first 10 months of 2022.
Behind the main market of Australia was the US market, accounting for 9.7% of the total volume and 10.8% of the total turnover, reaching 363,985 tonnes, equivalent to 138.9 million USD, the average price was 381.6 USD/tonne, up by 48.7% in volume, up by 22.2% in turnover but down by 17.9% in price compared to the first 10 months of 2022.
The next was the Brazilian market with 261,611 tonnes, equivalent to 95.82 million USD, the price reached 366.3 USD/tonne, down by 19% in volume, down 14.9% in turnover but up by 5% in price compared to the first 10 months of 2022, accounting for over 7% of the country's total wheat import volume and turnover.
Wheat imports from the Canadian market reached 180,473 tonnes, equivalent to 72.68 million USD, a sharp increase of 2,186% in volume and 1,816% in turnover compared to the first 10 months of 2022.
Vietnam’s imports of soybean in October and the first 10 months of 2023
In the first 10 months of 2023, Vietnam imported over 1.61 million tonnes of soybeans, worth of nearly 1.02 billion USD, with an average price of 632.6 USD/tonne.
According to the preliminary statistics figures of the General Department of Customs, Vietnam’s soybean imports in October of 2023 reached 138,874 tonnes, equivalent to 83.81 million USD, the average price was 603.5 USD/tonne, an increase of 43.2% in volume and increased turnover by 43.9% compared to September of 2023, the price increased slightly by 0.5%. In comparison to October of 2022, the figure saw a slight increase of 4% in volume but a decrease of 7.9% in turnover and a decrease in price of 11.5%.
In the first 10 months of 2023, the whole country imported over 1.61 million tonnes of soybeans, worth of nearly 1.02 billion USD. The average price was 632.6 USD/tonne, up by 5.2% in volume, but down by 4.5% in turnover and 9.1% decrease in price compared to the first 10 months of 2022.
Leading soybean import markets in October and the first 10 months of 2023
Soybeans imported to Vietnam from the Brazilian market the most. In October of 2023, the country’s imports of soybean from Brazil increased sharply by over 39% in both volume and turnover compared to September of 2023, the price increased slightly by 0.2%, reaching 92,929 tonnes, equivalent to equivalent to 53.28 million USD, the price was 573.4 USD/tonne. Overall in the first 10 months of 2023, soybean imports from this market reached 895,240 tonnes, equivalent to 530.77 million USD, accounting for 55.6% of the total volume and 52.1% of the total soybean import turnover of the country, down by 3.2% in volume, down by 18% in turnover, and price was down by 15.3% over the same period last year.
Imports of soybeans from the US market - the second largest market in the first 10 months of 2023 reached 552,284 tonnes, equivalent to 375.96 million USD, priced at 680.7 USD/tonne, accounting for 34.3% of the total volume and accounting for 36 9% of the country's total soybean import turnover, an increase of over 16% in both volume and turnover but the price decreased by 0.5% over the same period last year.
In addition, soybean imports from the Canadian market in the first 10 months of 2023 reached 90,553 tonnes, equivalent to over 66.97 million USD, priced at 739.6 USD/tonne, an increase of over 12% in both volume and turnover over the same period last year but the price decreased slightly by 0.1%. The imports from the Cambodian market reached 3,564 tonnes, equivalent to 2.71 USD, priced at 761.4 USD/tonne, a sharp decrease of 69.4% in volume, 70.3% decrease in turnover and 2.7% decrease in price.
CK
Source: VITIC