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Wheat imports increased in volume and decreased in turnover in 10 months of 2023 

 Thursday, November 23,2023

AsemconnectVietnam - In the first 10 months of 2023, Vietnam's imported wheat volume reached nearly 3.74 million tonnes, equivalent to over 1.29 billion USD, an increase of 10.4% in volume, but a decrease of 1.1% in turnover compared to 10 months of 2022.

According to the preliminary statistics figures of the General Department of Customs, in October of 2023, the country imported 414,633 tonnes of wheat, equivalent to 130.37 million USD, the average price was 314.4 USD/tonne, an increase of 84% in volume and an increase of 88.4% of turnover compared to September of 2023 and the price increased by 2.4%. In comparison to October of 2022, the figure also increased 183% in volume, increased 108% in turnover but decreased 26.5% in price.
Overall, in the first 10 months of 2023, the country's imported wheat volume reached nearly 3.74 million tonnes, equivalent to over 1.29 billion USD, an increase of 10.4% in volume, but a decrease of 1.1% in turnover compared to the first 10 months of 2022, the average price reached 345.5 USD/tonne, down by 10.4%.
In October of 2023, wheat imports from the main market Australia continued to decrease by 12.9% in volume and 9.2% in turnover compared to September of 2023, but the price increased by 4.2%, reaching 146,726 tonnes, equivalent to 47.21 million USD, the price reached 321.8 USD/tonne. In comparison to October of 2022, it increased sharply by 61.4% in volume, increased by 21.8% in turnover but decreased by 24.5% in price.
In the first 10 months of 2023, wheat imports from the Australian market accounted for 69% of the total volume and 68.2% of the country's total wheat import turnover, reaching nearly 2.58 million tonnes, equivalent to 881.14 million USD, the average price reached 341.8 USD/tonne, up by 3.6% in volume, but down by 8.3% in turnover and down by 11.5% in price compared to the first 10 months of 2022.
Behind the main market of Australia was the US market, accounting for 9.7% of the total volume and 10.8% of the total turnover, reaching 363,985 tonnes, equivalent to 138.9 million USD, the average price was 381.6 USD/tonne, up by 48.7% in volume, up by 22.2% in turnover but down by 17.9% in price compared to the first 10 months of 2022.
The next was the Brazilian market with 261,611 tonnes, equivalent to 95.82 million USD, the price reached 366.3 USD/tonne, down by 19% in volume, down 14.9% in turnover but up by 5% in price compared to the first 10 months of 2022, accounting for over 7% of the country's total wheat import volume and turnover.
Wheat imports from the Canadian market reached 180,473 tonnes, equivalent to 72.68 million USD, a sharp increase of 2,186% in volume and 1,816% in turnover compared to the first 10 months of 2022.
CK
Source: VITIC

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