AsemconnectVietnam - In January of 2024, Vietnam imported 981,316 tonnes of corn, equivalent to over 250.23 million USD, an increase of 22% in volume, but a decrease of 7.1% in turnover compared to January of 2023.

Also in January of 2024, the country imported 535,349 tonnes of wheat, equivalent to nearly 156.37 million USD, an increase of 126.4% in volume and an increase of 80.7% in turnover compared to January 2023.
Meanwhile, soybean imports in January 2024 reached 212,228 tonnes, equivalent to over 122.08 million USD, a sharp increase of 208.9% in volume and 164.5% in turnover compared to January 2023.
Vietnam's corn imports in January of 2024
According to the preliminary statistics figures of the General Department of Customs, in January of 2024, Vietnam imported 981,316 tonnes of corn, equivalent to 250.23 million USD, average price 255 USD/tonne, down by 27.4% in volume, down by 27.9% in turnover and 0.7% decrease in price compared to December of 2023. In comparison to January of 2023, it increased by 22% in volume, but decreased by 7.1% in turnover and decreased by 23.8% in price.
Main corn import markets in January of 2024
Brazil still led the list of the main corn supply markets for Vietnam, accounting for 73% of the total volume and 73.9% of the country's total corn import turnover, reaching nearly 715,856 tonnes, equivalent to nearly 185.02 million USD. The average price was 258.5 USD/tonne, down by 32.6% in volume, down by 32.9% in turnover and slightly down by 0.4% in price compared to December of 2023. In comparison to January of 2023, it increased sharply by 53.5% in volume, increased by 20.2% in turnover but decreased by 21.7% in price.
Laos market followed, accounting for over 3% of total volume and total turnover, reaching 32,552 tonnes, equivalent to nearly 8.5 million USD, average price of 261 USD/tonne, a sharp increase of 57.2% in volume and increase. 49% in turnover but down 5.2% in price compared to December of 2023. In comparison to January of 2023, it also increased sharply by 60% in volume and 20% in turnover but decreased 25% in price.
Argentina ranked third, reaching 26,460 tonnes, equivalent to 6.69 million USD, price 252.9 USD/tonne, down by 67.5% in volume and by 66% in turnover but up by 4.7% in price compared to December of 2023; down by 90% in volume, down by 92.4% in turnover and down by 24.7% in price compared to January of 2023, accounting for 2.7% of the country's total corn import volume and turnover.
The imports from FTA RCEP markets were 32,785 tonnes, equivalent to 9.45 million USD, up by 57.9% in volume and by 7.8% in turnover over the same period last year.
Vietnam's wheat imports in January of 2024
The preliminary statistics figues of the General Department of Customs showed that, in January of 2024 Vietnam imported 535,349 tonnes of wheat, equivalent to 156.37 million USD, the average price was 292 USD/tonne, down by 23.6% in volume, down by 20.4% in turnover but up by 4.2% in price compared to December of 2023. In comparison to January of 2023, it increased sharply by 126.4% in volume, increased by 80.7% in turnover but decreased by 20.2% in price.
Vietnam's main wheat import markets in January of 2024
Australia still led the list of wheat import markets of Vietnam, accounting for 40.3% of the total volume and 44.4% of the country's total wheat import turnover, reaching 215,823 tonnes, equivalent to nearly 69.39 million USD, the average price 321.5 USD/tonne, an increase of 144.6% in volume, a sharp increase of 137.9% in turnover but a slight decrease of 2.8% in price compared to December of 2023. In comparison to January of 2023, it also increased by 91.2% in volume, increased by 69% in turnover but decreased by 11.6% in price.
The second place was the Brazilian market, accounting for over 26% of the total volume and 23% of the total turnover, reaching 139,621 tonnes, equivalent to nearly 36.06 million USD, the average price 258.3 USD/tonne, a sharp increase of 28,106% in volume and an increase of 28,536% in turnover and a slight increase of 1.5% in price compared to December of 2023. In comparison to January of 2023, it also increased by 26.7% in volume but decreased by 9% in turnover and decreased by 28.2% in price.
The Ukrainian market ranked third, reaching 92,731 tonnes, equivalent to 24.44 million USD, priced at 263.6 USD/tonne, down by 69% in both volume and turnover compared to December of 2023 but a slight increase of 0.2% in price. In January of 2023, Vietnam did not import wheat from this market.
Notably, imports from the US market only accounted for 9% of the total volume and 10.4% of the total turnover, reaching 48,397 tonnes, equivalent to over 16.18 million USD, average price 334.3 USD/tonne, but increased sharply by 2,135% in volume and 2,102% in turnover compared to December of 2023.
Vietnam's soybean imports in January of 2024
According to preliminary statistics figures of the General Department of Customs, in January of 2024 the country imported 212,228 tonnes of soybean, equivalent to 122.08 million USD, the average price was 575.3 USD/tonne, an increase of 4.4% in volume, up by 0.9% in turnover but down by 3.4% in price compared to December of 2023. In comparison to January of 2023, it increased sharply by 208.9% in volume, increased by 164.5% in turnover but decreased by 14.4% in price.
Vietnam's main soybean import markets in January of 2024
The US wass still the leading soybean supply market for Vietnam, accounting for nearly 61% of the country's total soybean import volume and turnover, reaching 129,210 tonnes, equivalent to over 73.53 million USD, the average price was 569 USD/tonne, up by 29.3% in volume, up by 25% in turnover but slightly down by 3.3% in price compared to December of 2023. In comparison to January of 2023, it increased sharply by 128.4% in volume, increased by 96% in turnover but decreased by 14.2% in price.
The following was the Brazilian market, accounting for over 32% of total volume and total turnover, reaching 68,865 tonnes, equivalent to nearly 39.49 million USD, the average price was 573.4 USD/tonne, down by 25.4% in volume and down by 28.6% in turnover and down by 4.3% in price compared to December of 2023. In January of 2023, Vietnam did not import soybean from this market.
The Canadian market ranked third with 11,609 tonnes, equivalent to 7.3 million USD, the price was at 629 USD/tonne, up by 27.9% in volume, up by 28% in turnover and slightly up by 0.2% in price. compared to December of 2023. It increased by 12.7% in volume, but decreased by 1.4% in turnover and decreased by 12.5% in price compared to January of 2023, accounting for 5.5% of total volume and 6% of total bean import turnover of the whole country.
The imports from the Cambodian market reached 742 tonnes, equivalent to 543,710 USD, the average price was 732.8 USD/tonne, down by 44.4% in volume, down by 41.5% in turnover but up by 5.2% in price compared to December of 2023. In comparison to January of 2023, there was a sharp increase of 1,384% in volume, an increase of 1,259% in turnover but a decrease of 8.4% in price.
CK
Source: VITIC