AsemconnectVietnam - According to preliminary statistics figures from the General Department of Customs, soybean imports in 2024 reached nearly 2.22 million tonnes, worth of nearly 1.13 billion USD, with an average price of 508.1 USD/tonne, up by 19.4% in volume, but down by 3.6% in turnover and down by 19.3% in price compared to 2023.

In particular, in December of 2024 alone, it reached 239,148 tonnes, equivalent to 110.58 million USD, with an average price of 462.4 USD/tonne, up by 46.3% in volume and up by 36.2% in turnover compared to November of 2024, but the price decreased by 6.9%. In comparison to December of 2023, it also increased by 17.7% in volume, but decreased by 8.6% in turnover and decreased by 22.4% in price.
Brazil was the largest market supplying soybeans to Vietnam in 2024, accounting for 48.4% of the total volume and 47.5% of the total soybean import turnover of the country, reaching 1.07 million tonnes, equivalent to nearly 535.76 million USD, the price was 498.7 USD/tonne, up by 8.8% in volume, but down by 8.6% in turnover and down by 16% in price compared to 2023.
The second largest market was the US, in 2024 reaching 917,236 tonnes, equivalent to 464.33 million USD, the price was 506.2 USD/tonne, accounting for over 41% of the total volume and total soybean import turnover of the country, up by 35.3% in volume, up by 3% in turnover but down by 23.9% in price compared to 2023.
The next was the Canadian market. In 2024, the country’s imports of soybean from Canada reached 122,987 tonnes, equivalent to 72.61 million USD, the price was 590.4 USD/tonne, accounting for 5.5% of total volume and 6.4% of total soybean import turnover of the country, increased 14.3% in volume, but decreased 7.4% in turnover and price decreased 18.9% compared to the same period last year.
CK
Source: VITIC