AsemconnectVietnam - According to the preliminary statistics figures of the General Department of Customs, Vietnam’s imports of corn of all kinds in the first 11 months of 2023 reached nearly 8.36 million tonnes, worth of over 2.52 billion USD, the average price reached 301.5 USD/tonne, down by 1 % in volume, down by 14.7% in turnover and down by 13.8% in price compared to the first 11 months of 2022.

In November of 2022 alone, the country’s imports of corn reached 632,938 tonnes, equivalent to 165.37 million USD, the average price was at 261.3 USD/tonne, down by 49% in volume, down by 50% in turnover and down by 1.8% in price compared with October of 2023. In comparison to November of 2022, it was also down by 27.7% in volume, down by 42.7% in turnover and down by 20.7% in price.
Brazil was the largest market supplying corn to Vietnam in the first 11 months of 2023, accounting for 37.92% of the total volume and 37.78% of the country's total corn import turnover, reaching 3.17 million tonnes, equivalent to over 952.19 million USD, increasing in both volume and turnover compared to the same period of 2022, with an increase of 227.4% and 197.8% respectively, but the price decreased by 9%. In November of 2023 alone, the country’s imports of corn from Brazil reached 243,894 tonnes, equivalent to 63.37 million USD, the price was at 259.9 USD/tonne, down by 63% in volume, down by 64% in turnover compared to October of 2023 and the price was down by 2.6%. In comparison to November of 2022, it also decreased by 37.2% in volume, decreased by 50.4% in turnover, and decreased in price by 21%.
The second largest market was Argentina. In the first 11 months of 2023, the country’s imports of corn from Argentina reached 3.15 million tonnes, equivalent to 938.24 million USD, priced at 298 USD/tonne, accounting for 37.67% of the total volume and 37.23% of the total import turnover. The figure decreased sharply by 40.7% in volume, 49.8% in turnover and 15.4% in price compared to the same period last year.
Corn imports from the Indian market in the 11 months of 2023 reached 1.18 million tonnes, equivalent to 366.25 million USD, priced at 309.9 USD/tonne, accounting for over 14% of the total volume and total corn import turnover of the whole country, a sharp increase of 73.4% in volume, an increase of 62.8% in turnover but a decrease in price of 6.1% compared to the first 11 months of 2022.
CK
Source: VITIC