Vietnam's corn imports of all kinds increase in volume and value
According to preliminary statistics from General Department of Customs, Vietnam's corn imports of all kinds in 2024 reached nearly 12.52 million tonnes, worth over 3.04 billion USD, with an average price of 242.94 USD/tonne, up 28.9% in volume, up 6.07% in value but down 17.7% in price compared to 2023.
In particular, in December 2024 alone, it reached 1.41 million tonnes, equivalent to 343.29 million USD, with an average price of 244.2 USD/tonne, down 4.99% in volume, down 2.68% in value but up 2.43% in price compared to November 2024; Compared to December 2023, it increased by 3.96% in volume, but decreased by 1.07% in turnover and decreased by 4.84% in price compared to the same period.
Argentina is the largest market supplying corn to Vietnam in 2024, accounting for 51.1% of total volume and 50.4% of total corn import turnover of the country, reaching 6.4 million tonnes, equivalent to over 1.53 billion USD, an increase in both volume and turnover compared to 2023, with an increase of 98.1% and 60% respectively, but the price decreased by 19.2%; in December 2024 alone, it reached 569,354 tonnes, equivalent to 137.16 million USD, with a price of 240.9 USD/tonne, an increase of 18.7% in volume, an increase of 21% in turnover compared to November 2024 and a price increase of 1.89%; Compared to December 2023, it increased sharply by 598.4% in volume, increased by 596.7% in turnover, but the price decreased by 0.25% compared to the same period last year.
The second largest market is Brazil, in 2024 it reached 4.9 million tonnes, equivalent to 1.19 billion USD, price 242.8 USD/tonne, accounting for over 39% of total volume and total import turnover of corn of the whole country, increased by 15.7% in volume, but decreased by 3.2% in turnover and price decreased by 16.3% compared to 2023.
In addition to Argentina and Brazil, Vietnam also imports corn from other markets such as Laos, Thailand, India and Myanmar.
Of which, corn imports from the Lao market in 2024 reached 100,744 tonnes, equivalent to 24.7 million USD, priced at 245.2 USD/tonne, accounting for over 0.8% of total volume and total corn import turnover of the country, down 4% in volume, down 28% in turnover and down 25% in price compared to 2023.
Similarly, imports from Thailand reached 3,905 tonnes with a value of 14.698 million USD, down 40.8% in volume and 28.03% in turnover compared to the same period last year.
Notably, corn imports from India decreased sharply by 99.78% in volume and 98.11% in turnover compared to the same period last year, reaching only 2,619 tonnes with a value of 6.9 million USD. Imports from Myanmar reached 2,000 tonnes, worth 540,000 USD, down sharply by 94.76% in volume and 95.64% in value compared to the same period last year.
Vietnam increases corn imports of all kinds
Corn is an important commodity in the livestock and poultry industry. Corn usually accounts for about 25-40% of diet of livestock and poultry depending on stage of development and physiological state of the animal's body. This commodity is also closely linked to livestock farming, with countries that produce more corn, the livestock farming develops more.
Vietnam is one of the 30 largest corn growing countries in the world but is also among the countries that import the most corn in the world, behind China, Europe, Mexico, Japan, Korea and Egypt.
Vietnam's increased corn imports are aimed at meeting high demand of domestic livestock industry, especially animal feed production, while domestic corn output is not enough to meet demand.
In addition, climate change and adverse weather conditions have also negatively affected domestic corn output and quality, increasing import demand to compensate.
World corn prices are expected to continue to decrease as the market is under pressure from US President Donald Trump's threat to impose tariffs on major trading partners, in addition to the prospect of a bumper crop in South America.

Source: Vitic/ congthuong.vn