AsemconnectVietnam - According to preliminary statistics from the General Department of Customs, corn imports of all kinds in the first 10 months of 2024 reached over 9.63 million tonnes, worth of over 2.34 billion USD.

Meanwhile, in the first 10 months of 2024, the country's wheat imports reached nearly 5.02 million tonnes, equivalent to nearly 1.38 billion USD, and soybean imports in the first 10 months of 2024 reached nearly 1.82 million tonnes, worth of nearly 935.84 million USD.
Vietnam's corn imports in October and the first 10 months of 2024
According to preliminary statistics from the General Department of Customs, corn imports of all kinds in the first 10 months of 2024 reached over 9.63 million tonnes, worth of over 2.34 billion USD, with an average price of 243.4 USD/tonne, up by 24.7% in volume, but down by 0.4% in turnover and down by 20.2% in price compared to the first 10 months of 2023.
In particular, in October of 2024 alone, the country’s imports of corn reached 1.55 million tonnes, equivalent to 360.64 million USD, with an average price of 232.9 USD/tonne, up by 34.4% in both volume and turnover compared to September of 2024 but the price remained unchanged. In comparison to October of 2023, it increased by 26.8% in volume, increased by 10.8% in turnover but decreased by 12.6% in price.
Vietnam's main corn import markets in the first 10 months of 2024
Argentina was the largest market supplying corn to Vietnam in the first 10 months of 2024, accounting for 55.5% of the total volume and 54.7% of the total corn import turnover of the country, reaching over 5.35 million tonnes, equivalent to over 1.28 billion USD, priced at 239.7 USD/tonne, up by 81.7% in volume, up by 44.9% in turnover but down by 20.2% in price compared to the first 10 months of 2023.
The second largest market was Brazil, with over 3.15 million tonnes in the first 10 months of 2024, equivalent to 771.55 million USD, priced at 244.6 USD/tonne, accounting for over 32.7% of the total volume and 32.9% of the total corn import turnover of the country, up by 7.8% in volume, but down by 13.2% in turnover and the price was down by 19.5% compared to the first 10 months of 2023.
The next was the Lao market with 76,936 tonnes in the first 10 months of 2024, equivalent to 19.18 million USD, price 249.3 USD/tonne, accounting for nearly 0.8% of the total volume and total import turnover of corn of the whole country, up by 6.6% in volume, but down by 23.5% in turnover and the price was down by 28.2% compared to the same period last year.
Wheat imports in October and the first 10 months of 2024
In the first 10 months of 2024, the country's wheat import volume reached nearly 5.02 million tonnes, equivalent to nearly 1.38 billion USD, up 34.9% in volume, up by 7.1% in value compared to the first 10 months of 2023.
According to preliminary statistics from the General Department of Customs, in October of 2024, the country imported 482,707 tonnes of wheat, equivalent to 128.21 million USD, with an average price of 265.6 USD/tonne, down sharply by 42.8% in volume, down by 43.4% in value compared to September of 2024 and a slight decrease in price of 1.02%. In comparison to October of 2023, it increased by 16.4% in volume, but decreased by 1.7% in value and decreased by 15.5% in price.
In the first 10 months of 2024, the country's imported wheat volume reached nearly 5.02 million tonnes, equivalent to nearly 1.38 billion USD, an increase of 34.9% in volume and 7.1% in value compared to the first 10 months of 2023, with an average price of 274.5 USD/tonne, down by 20.6%.
Vietnam's main wheat import markets in October and the first 10 months of 2024
Ukraine was the largest market supplying wheat to Vietnam in the first 10 months of 2024, accounting for 27.4% of the total volume and 25.5% of the total wheat import turnover of the country, reaching over 1.37 million tonnes, equivalent to 351.2 million USD, the average price was 255.5 USD/tonne, a sharp increase of 879.4% in volume, an increase of 799.7% in turnover but a decrease of 8.1% in price compared to the first 10 months of 2023. In October of 2024 alone, 248,725 tonnes were imported, equivalent to 63.33 million USD, the average price was 254.6 USD/tonne, a sharp decrease of 36.1% in volume, a decrease of 34.9% in turnover compared to the previous month but the price increased slightly by 2%. Compared to October 2023, it increased sharply by 329.4% in volume, increased by 304.2% in turnover but decreased by 5.9% in price. The second largest market wa Brazil, accounting for 23.4% of the total volume and 21.3% of the total turnover, reaching 1.17 million tonnes, equivalent to over 293.14 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 10 months of 2023.
The next was the Australian market with 948,149 tonnes, equivalent to 292.46 million USD, with a price of 308.5 USD/tonne, accounting for 18.9% of the total volume and 21.2% of the total wheat import turnover of the country, a sharp decrease of 63.2% in volume, a decrease of 66.8% in turnover and a decrease of 9.8% in price.
Wheat imports from the US market reached 447,425 tonnes, equivalent to 138.6 million USD, priced at 309.8 USD/tonne, up by 22.9% in volume, down by 0.2% in turnover and down by 18.8% in price compared to the first 10 months of 2023.
Soybean imports in October and the first 10 months of 2024
According to preliminary statistics from the General Department of Customs, soybean imports in the first 10 months of 2024 reached nearly 1.82 million tonnes, worth of nearly 935.84 million USD, with an average price of 515.2 USD/tonne, up by 12.8% in volume, but down by 8.2% in turnover and down by 18.6% in price compared to the first 10 months of 2023.
Of which, in October of 2024 alone, the figure reached 222,742 tonnes, equivalent to 109.84 million USD, the average price was 493.1 USD/tonne, an increase of 50.5% in volume and 53% in turnover compared to September of 2024. The price increased by 1.7%. In comparison to October of 2023, it increased sharply by 60.4% in volume, increased by 31% in turnover but decreased by 18.3% in price. Vietnam's main soybean import markets in the first 10 months of 2024
Brazil was the largest market supplying soybeans to Vietnam in the first 10 months of 2024, accounting for 59.2% of the total volume and 57.3% of the total soybean import turnover of the country, reaching 1.07 million tonnes, equivalent to nearly 535.76 million USD, priced at 498.6 USD/tonne, up by 20% in volume, up by 0.9% in turnover but down by 15.9% in price compared to the first 10 months of 2023.
The second largest market was the US, in the first 10 months of 2024 reaching 568,705 tonnes, equivalent to 301.57 million USD, priced at 530.3 USD/tonne, accounting for 31.3% of the total volume and 32.2% of the total soybean import turnover of the country, up by 3% in volume, but down by 19.8% in turnover and the price was down by 22.1% compared to the first 10 months of 2023. The next was the Canadian market with 109,005 tonnes in the first 10 months of 2024, equivalent to 64.42 million USD, the price was 591 USD/tonne, accounting for 6% of the total volume and 6.9% of the total soybean import turnover of the whole country, up by 20.4% in volume, but down by 3.8% in turnover and the price was down by 20.1% compared to the same period last year.
CK
Source: VITIC