Wednesday, May 22,2024 - 13:3 GMT+7  Việt Nam EngLish 

Vietnam’s imports of raw materials for animal feed production in March and first 3 months of 2024 

 Wednesday, April 17,2024

AsemconnectVietnam - The preliminary statistics figures of the General Department of Customs showed that imports of corn of all kinds in the first 3 months of 2024 reached over 2.78 million tonnes, worth of nearly 702.74 million USD.

Also in the first 3 months of 2024, the country's wheat imports reached nearly 1.51 million tonnes, equivalent to over 421.39 million USD.
Meanwhile, soybean imports in the first 3 months of 2024 reached 539,997 tonnes, worth nearly 296.62 million USD.
Vietnam’s corn imports in March and the first 3 months of 2024
According to preliminary statistics of the General Department of Customs, Vietnam’s imports of corn of all kinds in the first 3 months of 2024 reached over 2.78 million tonnes, worth of nearly 702.74 million USD, with the average price of 252.7 USD/tonne, an increase 27.1% in volume, but down by 4.8% in turnover and down by 25.1% in price compared to the first 3 months of 2023.
In March of 2024 alone, the figure reached 871,741 tonnes, equivalent to 215.88 million USD, the average price was 247.7 USD/tonne, down by 6.5% in volume and down by 9.1% in turnover compared to February of 2024. The price also decreased by 2.8%. In comparison to March of 2023, it increased by 13.6% in volume, but decreased by 17.2% in turnover and decreased by 27.1% in price.
Brazil was the largest market supplying corn to Vietnam in the first 3 months of 2024, accounting for 53.4% of the total volume and 54.3% of the country's total corn import turnover, reaching 1.49 million tonnes, equivalent to nearly 381.27 million USD, priced at 256.6 USD/tonne, a sharp increase of 22.5% in volume, but a decrease of 5.8% in turnover and a decrease of 23% in price compared to the first 3 months of 2023.
The second largest market was Argentina. In the first 3 months of 2024, the figure reached 728,759 tonnes, equivalent to 178.79 million USD, priced at 245.3 USD/tonne, accounting for over 26.2% of the total volume and 25.4% of the total volume. The country's total corn import turnover increased by 79.5% in volume, increased by 31.6% in turnover but the price decreased by 26.7% compared to the first 3 months of 2023.
The next was Laos market. In the first 3 months of 2024, the country’s imports of corn from Laos reached 66,033 tonnes, equivalent to 16.55 million USD, priced at 250.6 USD/tonne, accounting for 2.4% of the total corn import volume and turnover of the country, increased by 11% in volume, but decreased by 20.3% in turnover and the price was down by 28.3% over the same period last year.
Vietnam’s wheat imports in March and in the first 3 months of 2024
In the first 3 months of 2024, the country's imports of wheat reached nearly 1.51 million tonnes, equivalent to over 421.39 million USD, an increase of 24.2% in volume, but a decrease of 5.2% in turnover compared to the same months of 2023.
According to the preliminary statistics figures of the General Department of Customs, in March of 2024 the country imported 468,999 tonnes of wheat, equivalent to 131.4 million USD, the average price was 280.2 USD/tonne, down by 6.9% in volume and decreased by 1.9% in turnover compared to February of 2024 but the price increased by 5.3%. In comparison to March of 2023, it also decreased by 20.9% in volume, 39% in turnover and 22.8% in price.
Overall, in the first 3 months of 2024, the country's imports of wheat reached nearly 1.51 million tonnes, equivalent to over 421.39 million USD, an increase of 24.2% in volume, but a decrease of 5.2% in value compared with the first 3 months of 2023, the average price reached 279.7 USD/tonne, down by 23.7%.
In March of 2024, wheat imports from the main market Brazil decreased by 12.2% in volume and 12.9% in turnover compared to February of 2024, and the price decreased by 0.8%, reaching 236,026 tonnes, equivalent to equivalent to 59.05 million USD, the price was at250.2 USD/tonne.
In comparison to March of 2023, it increased sharply by 384% in volume, increased by 240.5% in turnover but decreased by 29.7% in price. In the first 3 months of 2024, wheat imports from the Brazilian market accounted for 42.7% of the total volume and 38.6% of the country's total wheat import turnover, reaching over 642,957 tonnes, equivalent to 162.52 million USD, the average price was 252.8 USD/tonne, up by 145.8% in volume, up by 69.6% in turnover but down by 31% in price compared to the first 3 months of 2023.
Behind the main market of Brazil was the Australian market, accounting for 19% of the total volume and 21.8% of the total turnover, reaching 285,551 tonnes, equivalent to 91.37 million USD, the average price was 320 USD/tonne, down by 64.9% in volume, 68.6% decrease in turnover and 10.4% decrease in price compared to the first 3 months of 2023.
The next was the Ukrainian market with 147,094 tonnes, equivalent to 38.58 million USD, priced at 262.3 USD/tonne, accounting for 9.8% of the total volume and 9.2% of the country's total wheat import turnover.
Wheat imports from the US market reached 106,997 tonnes, equivalent to 35.24 million USD, up by 48% in volume and by 12.2% in turnover compared to the first 3 months of 2023.
Soybean imports in March and the first 3 months of 2024
According to the preliminary statistics figures of the General Department of Customs, soybean imports in the first 3 months of 2024 reached 539,997 tonnes, worth of nearly 296.62 million USD, the average price was549.3 USD/tonne, an increase of 8.3% in quantity, but down by 14.4% in turnover and 21% in price compared to the first 3 months of 2023.
In March of 2024 alone, the figure reached 200,868 tonnes, equivalent to 103.58 million USD, average price 515.6 USD/tonne, up by 58.3% in volume and 46% in turnover compared to February of 2024, but the price decreased by 7.8%. In comparison to March of 2023, it increased by 2.1% in volume, but decreased by 22.3% in turnover and decreased by 23.9% in price.
Brazil was the largest market supplying soybeans to Vietnam in the first 3 months of 2024, accounting for nearly 50.7% of the total volume and 49% of the country's total soybean import turnover, reaching 273,766 tonnes, equivalent to nearly 145.19 million USD, the price was 530.3 USD/tonne, up by 102.7% in volume, up by 58.6% in turnover but down by 21.8% in price compared to the first 3 months of 2023.
The second largest market was the US. In the first 3 months of 2024, the country’s imports of soybean from the U.S reached 233,249 tonnes, equivalent to 130.8 million USD, priced at 560.8 USD/tonne, accounting for over 43.2% of the total volume and 44.1% of the total soybean import turnover, down by 29.3% in volume, down by 43.2% in turnover and the price was down by 19.7% compared to the first 3 months of 2023.
The next was the Canadian market. In the first 3 months of 2024, the country’s imports of soybean from Canada reached 27,462 tonnes, equivalent to 17.05 million USD, priced at 620.8 USD/tonne, accounting for 5.1% of total volume and 5.8% of total import turnover of the country. The figure increased by 1.3% in volume, but decreased by 14.7% in turnover and price decreased by 15.8% over the same period last year.
CK
Source: VITIC

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