AsemconnectVietnam - According to the preliminary statistics figures of the General Department of Customs, Vietnam’s corn imports of all kinds in the first 7 months of 2024 reached over 5.74 million tonnes, worth of over 1.43 billion USD

Also in the first 7 months of 2024, the country's wheat imports reached over 3.44 million tonnes, equivalent to over 954.67 million USD and soybean imports in the first 7 months of 2024 reached over 1.31 million tonnes, worth of over 687.65 million USD.
Corn imports in July and the first 7 months of 2024
According to the preliminary statistics figures of the General Department of Customs, corn imports of all kinds in the first 7 months of 2024 reached over 5.74 million tonnes, worth of over 1.43 billion USD, with an average price of 249 USD/tonne, up by 34.3% in volume, up by 1.9% in turnover but down by 24.1% in price compared to the first 7 months of 2023.
In particular, in July of 2024 alone, it reached 892,238 tonnes, equivalent to 214.5 million USD, with an average price of 240.4 USD/tonne, up by 36.4% in volume, up by 35.3% in turnover but down by 0.8% in price compared to June of 2024. Compared to July 2023, it increased sharply by 49.4% in volume, increased by 21.2% in turnover but decreased by 18.9% in price.
Vietnam's main fertilizer import markets in the first 7 months of 2024
Argentina was the largest market supplying corn to Vietnam in the first 7 months of 2024, accounting for 55.5% of the total volume and 54% of the total corn import turnover of the country, reaching nearly 3.19 million tonnes, equivalent to over 772.29 million USD, priced at 242.4 USD/tonne, up by 130.3% in volume, up by 70.9% in turnover but down by 25.8% in price compared to the first 7 months of 2023.
The second largest market was Brazil. The country’s imports of corn from Brazil in the first 7 months of 2024 reached over 1.57 million tonnes, equivalent to 402.69 million USD, priced at 256 USD/tonne, accounting for 27.4% of the total volume and 28.2% of the total corn import turnover of the country, up by 14% in value volume, but down by 12.4% in turnover and price down by 23.2% compared to the first 7 months of 2023.
The next was Laos with 74,589 tonnes, equivalent to 18.64 million USD, the price was 249.9 USD/tonne, accounting for 1.3% of the total volume and total corn import turnover of the whole country, up by 23.5% in volume, but down by 11.7% in turnover and price down by 28.5% compared to the same period last year.
Notably, corn imports from the Indian market in the first 7 months of this year decreased sharply, down by 99.8% in volume and down 98% in turnover compared to the same period last year, reaching only 2,561 tonnes, equivalent to 6.85 million USD.
Wheat imports in July and the first 7 months of 2024
In the first 7 months of 2024, the country's wheat import volume reached over 3.44 million tonnes, equivalent to over 954.67 million USD, up by 24.8% in volume, but down by 2.8% in value compared to the first 7 months of 2023.
According to the preliminary statistics figures from the General Department of Customs, in July of 2024, the country imported 316,511 tonnes of wheat, equivalent to 92.35 million USD, with an average price of 291.8 USD/tonne, up by 9.9% in volume, up by 13.4% in value compared to June of 2024 and up by 3.2% in price. Compared to July of 2023, it decreased by 5.2% in volume, 16.9% in value and 12.3% in price.
In the first 7 months of 2024, the country's total wheat imports reached over 3.44 million tonnes, equivalent to over 954.67 million USD, up by 24.8% in volume, but down by 2.8% in value compared to the first 7 months of 2023, the average price reached 277.5 USD/tonne, down by 22%.
Vietnam's main wheat import markets in the first 7 months of 2024
In July of 2024, wheat imports from the main market Brazil increased again by 17.4% in volume and 13.2% in value compared to June of 2024, but the price decreased by 3.6%, reaching 23,973 tonnes, equivalent to 5.78 million USD, at 241 USD/tonne; while in July of 2023, there were no imports from this market. In the first 7 months of 2024, wheat imports from the Brazilian market accounted for 34% of the total volume and 30.7% of the total wheat import turnover of the country, reaching over 1.17 million tonnes, equivalent to 293.15 million USD, with an average price of 249.6 USD/tonne, a sharp increase of 348.9% in volume, an increase of 205.9% in turnover but a decrease of 31.9% in price compared to the first 7 months of 2023. Following the main market of Brazil was the Australian market, accounting for 21.4% of the total volume and 23.8% of the total turnover, reaching 737,112 tonnes, equivalent to over 227.46 million USD, with an average price of 308.6 USD/tonne, down by 65.3% in volume, down by 69.1% in turnover and down by 11% in price compared to the first 7 months of the year 2023.
The next was the Ukrainian market reached 612,846 tonnes, equivalent to 159.42 million USD, priced at 260 USD/tonne, accounting for 17.8% of the total volume and 16.7% of the total wheat import turnover of the country, a sharp increase of 2,412% in volume, an increase of 1,862% in turnover but a decrease of 21.9% in price.
Wheat imports from the US market reached 257,223 tonnes, equivalent to 84.22 million USD, priced at 327.4 USD/tonne, an increase of 49.3% in volume, an increase of 19.4% in turnover but a decrease of 20% in price compared to the first 7 months of 2023.
Soybean imports in July and the first 7 months of 2024
According to the preliminary statistics figures from the General Department of Customs, soybean imports in the first 7 months of 2024 reached over 1.31 million tonnes, worth of over 687.65 million USD, with an average price of 523.7 USD/tonne, up by 8.7% in volume, but down by 11.9% in turnover and down by 18.9% in price compared to the first 7 months of 2023.
In particular, in July of 2024 alone, it reached 245,805 tonnes, equivalent to 124.77 million USD, with an average price of 507.6 USD/tonne, up by sharply by 256% in volume and up by 252% in turnover compared to June of 2024, but the price decreased slightly by 1.1%. Compared to July of 2023, it also increased sharply by 172% in volume, increased by 140% in turnover but decreased by 11.7% in price. Vietnam's main soybean import markets in the first 7 months of 2024
Brazil was the largest market supplying soybeans to Vietnam in the first 7 months of 2024, accounting for nearly 59.5% of the total volume and 57.4% of the total soybean import turnover of the country, reaching 780,916 tonnes, equivalent to nearly 394.61 million USD, priced at 505.3 USD/tonne, up by 31.8% in volume, up by 10.2% in turnover but down 16.4% in price compared to the first 7 months of 2023.
The second largest market was the US. In the first 7 months of 2024, the country’s imports of soybean from the U.S reached 422,669 tonnes, equivalent to 229.12 million USD, priced at 542 USD/tonne, accounting for 32.2% of the total volume and 33.3% of the total soybean import turnover of the country, down by 12.3% in volume, down by 30.6% in turnover and down by 20.8% in price compared to the first 7 months of 2023. The next was the Canadian market. In the first 7 months of 2024, the country’s imports of soybean from Canada reached 70,863 tonnes, equivalent to 42.71 million USD, the price was 602.8 USD/tonne, accounting for 5.4% of the total volume and 6.2% of the total soybean import turnover of the whole country, up by 2.2% in volume, but down by 16.8% in turnover and down by 18.6% in price compared to the same period last year.
CK
Source: VITIC