According to preliminary statistics from General Department of Customs, corn imports of all kinds in the first 9 months of 2024 reached over 8.08 million tonnes, worth over 1.98 billion USD, with an average price of 245.4 USD/tonne, up 24.3% in volume, but down 2.3% in turnover and down 21.4% in price compared to the first 9 months of 2023. Of which, in September 2024 alone, it reached 1.15 million tonnes, equivalent to 268.43 million USD, with an average price of 232.9 USD/tonne, down 3.1% in volume, down 5.6% in turnover and down 2.6% in price compared to August 2024; compared to September 2023, it increased 0.05% in volume, but down 14.9% in turnover and down 15% in price.
Argentina is the largest market supplying corn to Vietnam in the first 9 months of 2024, accounting for 57% of total volume and 56% of total corn import turnover of the country, reaching nearly 4.61 million tonnes, equivalent to over 1.11 billion USD, priced at 240.9 USD/tonne, up 89.4% in volume, up 48.3% in turnover but down 21.7% in price compared to the first 9 months of 2023.
The second largest market is Brazil, in the first 9 months of 2024 reaching over 2.35 million tonnes, equivalent to 584.73 million USD, priced at 248.7 USD/tonne, accounting for over 29% of total volume and total corn import turnover of the country, up 2.8% in volume, but down 18.5% in turnover and down 20.8% in price compared to the first 9 months of 2023.
In addition to Argentina and Brazil and Vietnam also import corn from other markets such as Thailand, Laos and India.
Of which, import volume from the Lao market in the first 9 months of 2024 reached 74,664 tonnes, equivalent to 18.66 million USD, priced at 250 USD/tonne, accounting for nearly 1% of total volume and total corn import turnover of Vietnam, up 22.4% in volume, but down 13% in turnover and down 29% in price compared to the same period last year.
Similarly, imports from Thailand reached 3,500 tonnes with a value of 6.89 million USD, down 30.5% and 31.93% respectively compared to the same period last year.
Notably, amount of corn imported from India decreased sharply by 99.7% in volume and 98% in turnover compared to the same period last year, reaching only 2,574 tonnes with a value of 6.8 million USD.
According to Ministry of Agriculture and Rural Development, corn is an important commodity in livestock and poultry farming industry in Vietnam. This is a commodity closely linked to livestock farming, so this grain accounts for nearly 40% of diet of livestock and poultry, depending on development stage and physiological state of the animal's body.
Because supply from domestic crop industry only meets about 37% of raw materials for animal feed production. Therefore, every year Vietnam still has to spend billions of USD to import this type of raw material.
To reduce dependence on imported corn, experts say that Vietnam needs specific measures to promote domestic corn production. First of all, it is necessary to invest in research and development of high-yield corn varieties that are disease-resistant and suitable for climatic conditions of each region. In addition, application of scientific and technological advances in cultivation is also an important factor in improving corn productivity and quality.
At the same time, policies to support farmers in accessing capital, technology and markets also need to be focused on. Government needs to encourage farmers to return to corn cultivation through price support programs, training in farming techniques and expanding the domestic corn consumption market.

Source: Vitic/ congthuong.vn