AsemconnectVietnam - According to the preliminary statistics figures of the General Department of Customs, Vietnam's corn imports reached nearly 4.24 million tonnes, worth of nearly 1.07 billion USD in the first 5 months of 2024.

Meanwhile, the country's imported wheat volume reached over 2.83 million tonnes, equivalent to over 779.53 million USD, up by 39.3% in volume, up by 3.6% in value compared to the first 5 months of 2023.
In the first 5 months of 2024, the country's soybean imports reached 988,564 tonnes, worth of nearly 522.1 million USD.
Vietnam's corn imports in May and the first 5 months of 2024
According to the preliminary statistics figures of the General Department of Customs, Vietnam’s imports of corn of all kinds in the first 5 months of 2024 reached nearly 4.24 million tonnes, worth of nearly 1.07 billion USD, the average price reached 251.8 USD/tonne, an increase 32.1% in volume, but down by 1.2% in turnover and 25.2% in price compared to the first 5 months of 2023.
In May of 2024 alone, the figure reached 754,635 tonnes, equivalent to 186.15 million USD, the average price reached 246.7 USD/tonne, up by 14% in volume and by 10.9% in turnover compared to April of 2024, but the price decreased by 2.8%. In comparison to May of 2023, it increased by sharply by 89.3% in volume, increased by 41.8% in turnover but decreased by 25% in price.
Vietnam's main corn import markets in May and the first 5 months of 2024
Argentina surpasses Brazil to become the largest market supplying corn to Vietnam in the first 5 months of 2024, accounting for 48.5% of the total volume and 46.7% of the country's total corn import turnover, reaching 2.06 million tonnes, equivalent to nearly 498.71 million USD, the price was at 242.7 USD/tonne, up by 126.6% in volume, up by 64.2% in turnover but down by 27.6% in price compared to the first 5 months 2023.
The second largest market was Brazil. In the first 5 months of 2024, the country’s imports of corn from Brazil reached nearly 1.49 million tonnes, equivalent to 381.82 million USD, priced at 256.9 USD/tonne, accounting for over 35% of total volume and total import turnover, increased by 7.8% in volume, but decreased by 17% in turnover and price decreased by 23% compared to the first 5 months of 2023.
The next was the Laos market. In the first 5 months of 2024, the country’s imports of corn from Laos reached 75,089 tonnes, equivalent to 18.79 million USD, priced at 250.2 USD/tonne, accounting for over 1.8% of the country's total corn import volume and turnover, increased by 24.3% in volume, but decreased by 11% in turnover and price decreased by 28.4% over the same period last year.
Vietnam's wheat imports in May and the first 5 months of 2024
According to the preliminary statistics figures of the General Department of Customs, in May of 2024 the country imported 533,673 tonnes of wheat, equivalent to 141.12 million USD, the average price was 264.4 USD/tonne, down by 34% in volume, down by 36% of turnover compared to April of 2024 and the price decreased by by 3.3%. In comparison to May of 2023, there was a sharp increase of 40.9% in volume, but a decrease of 4.8% in turnover and a decrease of 32.4% in price.
Overall, in the first 5 months of 2024, the country's total wheat imports reached over 2.83 million tonnes, equivalent to over 779.53 million USD, up by 39.3% in volume, up by 3.6% in turnover compared to the first 5 months of 2023, the average price reached 275.3 USD/tonne, down by 25.6%.
Vietnam's main wheat import markets in May and the first 5 months of 2024
In May of 2024, wheat imports from the main market Brazil decreased by 42.8% in volume and 42.5% in turnover compared to April of 2024, but the price increased by 0.5%, reaching 183,373 tonnes, equivalent to equivalent to 45.19 million USD, the price was at 246.4 USD/tonne. In May of 2023 there were no imports from this market. In the first 5 months of 2024, wheat imports from the Brazilian market accounted for 39.9% of the total volume and 36.2% of the country's total wheat import turnover, reaching over 1.13 million tonnes, equivalent to 282.27 million USD, the average price was at 249.8 USD/tonne, up by 332% in volume, up by 194.6% in turnover but down by 31.8% in price compared to the first 5 months of 2023.
Behind the main market of Brazil was the Australian market, accounting for 18.7% of the total volume and 21.4% of the total turnover, reaching 529,214 tonnes, equivalent to 166.64 million USD, the average price reached 314.9 USD/ tonnes, down by 62% in volume, down by 67% in turnover and down by 13% in price compared to the first 5 months of 2023.
The next was the Ukrainian market with 436,451 tonnes, equivalent to 112.43 million USD, priced at 257.6 USD/tonne, accounting for 15.4% of the total volume and 14.4% of the country's total wheat import turnover.
Wheat imports from the US market reached 222,982 tonnes, equivalent to 73.69 million USD, priced at 330.5 USD/tonne, up by 52% in volume, up by 21% in turnover but down by 20.4% in price compared to with the first 5 months of 2023.
Soybean imports in May and the first 5 months of 2024
According to the preliminary statistics figures of the General Department of Customs, soybean imports in the first 5 months of 2024 reached 988,564 tonnes, worth of nearly 522.1 million USD, the average price reached 528.1 USD/tonne, an increase of 12.6% in quantity, but down by 11.2% in turnover and by 21.2% in price compared to the first 5 months of 2023.
In May of 2024 alone, it reached 225,917 tonnes, equivalent to 114.34 million USD, the average price was 506.1 USD/tonne, up by 1.4% in volume, up by 2.7% in turnover compared to April of 2024, and prices increase by 1.3%. In comparison to May of 2023, it increased by sharply by 60.3% in volume, increased by 32.4% in turnover but decreased by 17.5% in price.
Vietnam's main soybean import markets in May and the first 5 months of 2024
Brazil was the largest market supplying soybeans to Vietnam in the first 5 months of 2024, accounting for nearly 57.8% of the total volume and 55.6% of the country's total soybean import turnover, reaching 571,686 tonnes, equivalent to nearly 290.27 million USD, with the price of 507.8 USD/tonne, up by 65.2% in volume, up by 31.7% in turnover but down by 20.3% in price compared to the first 5 months of 2023.
The second largest market was the US. In the first 5 months of 2024, the country’s imports of soybean from the U.S reached 332,464 tonnes, equivalent to 182.7 million USD, priced at 549.5 USD/tonne, accounting for 33.6% of total volume and 35% of total turnover. The country's soybean imports decreased by 25.2% in volume, 40.2% in turnover and 20% in price compared to the first 5 months of 2023.
The imports of soybean from Canada in the first 5 months of 2024 reached 47,731 tonnes, equivalent to 29.28 million USD, priced at 613.5 USD/tonne, accounting for 4.8% of the total volume and 5.1% of the total import turnover. The figure decreased by 8.1% in volume, 24.7% in turnover and 18% in price compared to the same period last year.
CK
Source: VITIC