AsemconnectVietnam - According to the preliminary statistics figures of the General Department of Customs, corn imports in the first 2 months of 2024 reached over 1.91 million tonnes, worth of nearly 487.29 million USD.

Meanwhile, in the first 2 months of 2024, the country's wheat imports reached nearly 1.04 million tonnes, equivalent to nearly 290.33 million USD.
Soybean imports in the first 2 months of 2024 reached over 339,129 tonnes, worth of 193.04 million USD
Corn imports in February and the first 2 months of 2024
According to the preliminary statistics figures of the General Department of Customs, corn imports in the first 2 months of 2024 reached over 1.91 million tonnes, worth of nearly 487.29 million USD, the average price was 254.8 USD/tonne, an increase of 34. 6% in volume, 2% increase in turnover but 24.2% decrease in price compared to the first 2 months of 2023.
The figure of February of 2024 alone reached 932,291 tonnes, equivalent to 237.45 million USD, the average price was 254.7 USD/tonne, down by 5% in both volume and turnover compared to January of 2024, price also decreased by 0.1%. In comparison to February of 2023, it increased sharply by 46% in volume, increased by 10.2% in turnover but decreased by 24.6% in price.
Vietnam's main corn import markets in the first 2 months of 2024
Brazil was the largest market supplying corn to Vietnam in the first 2 months of 2024, accounting for 61.5% of the total volume and 62.5% of the country's total corn import turnover, reaching 1.18 million tonnes, equivalent to nearly 304.5 million USD, priced at 258.9 USD/tonne, a sharp increase of 43.4% in volume, an increase of 11.7% in turnover but a decrease of 22.1% in price compared to the first 2 months of 2023.
The second largest market was Argentina. In the first 2 months of 2024, the country’s imports of corn from Argentina reached 330,315 tonnes, equivalent to 82.72 million USD, priced at 250.4 USD/tonne, accounting for over 17% of the total corn import volume and turnover of the whole country, up by 18.8% in volume, but down by 11.3% in turnover and the price was down by 25.4% compared to the first 2 months of 2023.
The next was the Laos market. In the first 2 months of 2024, the country’s imports of corn from Laos reached 48,336 tonnes, equivalent to 12.39 million USD, priced at 256.3 USD/tonne, accounting for 2.5% of the total corn import volume and turnover of the country, increasing by 9% in volume, but down by 20% in turnover and the price was down by 26.6% over the same period last year.
Vietnam's wheat imports in February and the first 2 months of 2024
According to the preliminary statistics figures of the General Department of Customs, in February of 2024 the whole country imported 503,681 tonnes of wheat, equivalent to 133.97 million USD, the average price was 266 USD/tonne, decreased in volume, turnover and price compared to January of 2024, with a corresponding decrease of 5.9%, 14.3% and 8.9%. In comparison to February of 2023, it increased by 31.1% in volume, decreased by 6.2% in turnover and decreased by 28.5% in price.
In the first 2 months of 2024, the country's wheat imports reached nearly 1.04 million tonnes, equivalent to nearly 290.33 million USD, an increase of 67.4% in volume, an increase of 26.6% in turnover. In comparison to the first 2 months of 2023, the average price reached 279.4 USD/tonne, down by 24.4%.
Vietnam's main wheat import markets in February and the first 2 months of 2024
In February of 2024, wheat imports from the main market Brazil increased sharply by 92.5% in volume, increased by 87.9% in turnover but decreased by 2.4% in price compared to January of 2024, reaching 268,730 tonnes, equivalent to 67.76 million USD, with the price of 252.2 USD/tonne.
In comparison to February of 2023, it also increased 161.8% in volume, increased 74.4% in turnover but decreased 33.4% in price. In total for the first two months, wheat imports from the Brazilian market accounted for 39.3% of the total volume and 35.8% of the country's total wheat import turnover, reaching 408,351 tonnes, equivalent to 103.82 USD, the average price was 254.2 USD/tonne, a sharp increase of 91.8% in volume, an increase of 32.3% in turnover but a decrease of 31% in price compared to the first 2 months of 2023.
The next was the Australian market, accounting for 22.3% of the total volume and 25.6% of the total turnover, reaching 231,698 tonnes, equivalent to 74.22 million USD, the average price was 320.4 USD/tonne, down by 31.3% in volume, 39.1% decrease in turnover and 11.4% decrease in price compared to the first 2 months of 2023
The Ukrainian market ranked third with 144,689 tonnes, equivalent to 37.94 million USD, priced at 262.2 USD/tonne, accounting for 13.9% of the total volume and 13% of the country's total wheat import turnover. In the first 2 months of 2023, no wheat was imported from this market.
Soybean imports in February and the first 2 months of 2024
According to the preliminary statistics figures of the General Department of Customs, Vietnam’s soybean imports in the first 2 months of 2024 reached over 339,129 tonnes, worth of 193.04 million USD, the average price was 569.2 USD/tonne, an increase of 12.3% in terms of quantity, but down by 9.5% in turnover and 19.5% in price compared to the first 2 months of 2023.
Of which, the figure of February of 2024 alone reached 126,901 tonnes, equivalent to 70.96 million USD, the average price was 559.2 USD/tonne, down by 40.2% in volume and 41.9% in turnover compared to January of 2024, the prices decreased by 2.8%. In comparison to February of 2023, it also decreased sharply by 45.6% in volume, 57.6% in turnover and 22% in price.
Soybean import markets in February and the first 2 months of 2024
The US was the largest market supplying soybeans to Vietnam in the first 2 months of 2024, accounting for nearly 52% of the country's total soybean import volume and turnover, reaching 175,906 tonnes, equivalent to nearly 99.5 million USD, the price was at 565.6 USD/tonne, down by 16.5% in volume, down by 33.5% in turnover and down by 20.3% in price compared to the first 2 months of 2023.
The second largest market was Brazil. In the first 2 months of 2024, the country’s imports of soybean from Brazil reached 139,851 tonnes, equivalent to 78.82 million USD, priced at 563.6 USD/tonne, accounting for over 41.2% of the total volume and 42.8% of the total volume of the country's total soybean imports and increased by 111.6% in volume, increased by 73.1% in turnover but the price decreased by 18.2% compared to the first 2 months of 2023.
The next was the Canadian market. In the first 2 months of 2024, the country’s imports of soybean from Canada reached 19,853 tonnes, equivalent to 12.46 million USD, priced at 627.7 USD/tonne, accounting for 5.9% of the total volume and 6.5% of the total import turnover of the country. The figure decreased by 1.8% in volume, 15.9% in turnover and 14.3% in price compared to the same period last year.
CK
Source: VITIC