AsemconnectVietnam - According to preliminary statistics from the General Department of Customs, in the first 8 months of 2024, Vietnam's corn imports reached a value of nearly 1.72 billion USD.

Meanwhile, the country's imports reached nearly 3.71 million tonnes, equivalent to nearly 1.03 billion USD, up by 20.6% in volume, but down by 5.3% in value compared to the first 8 months of 2023.
Soybean imports in the first 8 months of 2024 reached nearly 1.45 million tonnes, worth of nearly 754.48 million USD, with an average price of 521.6 USD/tonne.
Vietnam's corn imports in August and the first 8 months of 2024
Corn imports of all kinds in the first 8 months of 2024 reached over 6.93 million tonnes, worth of over 1.72 billion USD, average price 247.4 USD/tonne
According to preliminary statistics of the General Department of Customs, corn imports of all kinds in the first 8 months of 2024 reached over 6.93 million tonnes, worth of over 1.72 billion USD, average price 247.4 USD/tonne, up by 29.5% in volume, up by 0.07% in turnover but down 22.8% in price compared to the first 8 months of 2023.
In particular, in August of 2024 alone, it reached 1.19 million tonnes, equivalent to 284.44 million USD, average price 239.2 USD/tonne, up by 33.3% in volume, up by 32.6% of turnover but price decreased by 0.5% compared to July of 2024. In comparison to August of 2023, it increased by 10.7% in volume, but decreased by 8.3% in turnover and decreased by 17.1% in price.
Vietnam's main corn import markets in August and the first 8 months of 2024
Argentina was the largest market supplying corn to Vietnam in the first 8 months of 2024, accounting for 58.3% of the total volume and 57% of the total corn import turnover of the country, reaching over 4.04 million tonnes, equivalent to nearly 978.45 million USD, priced at 241.9 USD/tonne, up 106.5% in volume, up by 57.9% in turnover but down by 23.5% in price compared to the first 8 months of 2023.
The second largest market was Brazil, in the first 8 months of 2024 reaching nearly 1.79 million tonnes, equivalent to 453.89 million USD, priced at 253.9 USD/tonne, accounting for 25.8% of the total volume and 26.5% of the total corn import turnover of the country, up by 3.9% in volume, but down by 18.9% in turnover and price down by 22% compared to the first 8 months of 2023.
The next was the Lao market. In the first 8 months of 2024 reached 74,589 tonnes, equivalent to 18.64 million USD, price 249.9 USD/tonne, accounting for over 1% of the total volume and total import turnover of corn of the whole country, up by 23.5% in volume, but down by 11.7% in turnover and down by 28.5% in price compared to the same period last year.
Vietnam's wheat imports in August and the first 8 months of 2024
In the first 8 months of 2024, the country's wheat import volume reached nearly 3.71 million tonnes, equivalent to nearly 1.03 billion USD, up by 20.6% in volume, but down by 5.3% in value compared to the first 8 months of 2023.
According to preliminary statistics from the General Department of Customs, in August of 2024, the country imported 269,712 tonnes of wheat, equivalent to 73.25 million USD, with an average price of 271.6 USD/tonne, down by 14.8% in volume, down by 20.7% in value compared to July of 2024 and down by 6.9% in price. Compared to August of 2023, it decreased by 15.8% in volume, down by 29.4% in value and down by 16.2% in price.
In the first 8 months of 2024, the country's total wheat imports reached nearly 3.71 million tonnes, equivalent to nearly 1.03 billion USD, up by 20.6% in volume, but down by 5.3% in value compared to the first 8 months of 2023, with an average price of 277.1 USD/tonne, down by 21.5%.
Vietnam's main wheat import markets in August and the first 8 months of 2024
In August of 2024, wheat imports from the main market Brazil in the first 8 months of 2024 accounted for 31.7% of the total volume and 28.5% of the total wheat import turnover of the whole country, reaching over 1.17 million tonnes, equivalent to 293.15 million USD, the average price was 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 8 months of 2023. In August of 2024, wheat was not imported from this market.
Behind the main market Brazil was the Australian market, accounting for 21.1% of the total volume and 23.5% of the total turnover, reaching 782,572 tonnes, equivalent to over 241.69 million USD, the average price is 308.9 USD/tonne, down by 65.4% in volume, down by 69% in turnover and down by 10.6% in price compared to the first 8 months of 2023.
The next was the Ukrainian market, reaching 736,590 tonnes, equivalent to 190.65 million USD, price of 258.8 USD/tonne, accounting for 19.9% of the total volume and 18.6% of the total wheat import turnover of the whole country, a sharp increase of 808% in volume, an increase of 729% in turnover but a decrease of 8.7% in price. Wheat imports from the US market reached 258,738 tonnes, equivalent to 84.68 million USD, priced at 327.3 USD/tonne, down by 0.2% in volume, down by 17.2% in turnover and down 17% in price compared to the first 8 months of 2023.
Vietnam's soybean imports in August and the first 8 months of 2024
Soybean imports in the first 8 months of 2024 reached nearly 1.45 million tonnes, worth nearly 754.48 million USD, with an average price of 521.6 USD/tonne.
According to preliminary statistics from the General Department of Customs, soybean imports in the first 8 months of 2024 reached nearly 1.45 million tonnes, worth of nearly 754.48 million USD, with an average price of 521.6 USD/tonne, up by 5.2% in volume, down by 14% in turnover and down by 18.2% in price compared to the first 8 months of 2023.
Of which, in August of 2024 alone, it reached 132,031 tonnes, equivalent to 66.24 million USD, the average price was 501.7 USD/tonne, a sharp decrease of 46.3% in volume and 46.9% in turnover compared to July of 2024, the price decreased slightly by 1.2%. Compared to August of 2023, it also decreased by 20.5% in volume, 31.5% in turnover and 13.8% in price.
Vietnam's main soybean import markets in August and the first 8 months of 2024
Brazil was the largest market supplying soybeans to Vietnam in the first 8 months of 2024, accounting for 59% of the total volume and 56.9% of the total soybean import turnover of the country, reaching 852,614 tonnes, equivalent to nearly 429.21 million USD, priced at 503.4 USD/tonne, up by 15.9% in volume, but down by 2.3% in turnover and down by 15.7% in price compared to the first 8 months of 2023.
The second largest market was the US, in the first 8 months of 2024 reaching 470,501 tonnes, equivalent to 253.46 million USD, priced at 538.7 USD/tonne, accounting for 32.5% of the total volume and 33.6% of the total soybean import turnover of Vietnam, down by 5.6% in volume, down by 25.6% in turnover and down by 21.2% in price compared to the first 8 months of 2023.
The next was the Canadian market in the first 8 months of 2024 reached 83,221 tonnes, equivalent to 49.75 million USD, price 597.8 USD/tonne, accounting for 5.8% of the total volume and 6.6% of the total soybean import turnover of the whole country, up by 10.8% in volume, but down by 10.8% in turnover and down by 19.6% in price compared to the same period last year.
CK
Source: VITIC