Thursday, December 12,2024 - 15:28 GMT+7  Việt Nam EngLish 

Soybean imports from Cambodia increased nearly 8 times 

 Wednesday, November 27,2024

AsemconnectVietnam - Among items Vietnam imported from Cambodia, soybeans recorded a record increase, up 799.4%, equivalent to nearly 8 times in the first 9 months of 2024.

According to data from General Department of Vietnam Customs, in the first 9 months of 2024, total import-export turnover between Vietnam and Cambodia reached 7.5 billion USD, up 15.4% over the same period in 2023. In particular, Vietnam's import-export turnover to Cambodia includes important items such as textiles, iron and steel of all kinds, petroleum of all kinds and agricultural products of all kinds.
Among export items, rubber products recorded the highest export growth rate, reaching 102.58% over the same period last year; coffee exports increased by 71.21% over the same period last year; exports of other base metals and products increased by 56.51%; Exports of confectionery and cereal products increased by 55.44%; exports of fruits and vegetables increased by 51.55% over the same period last year;…
On contrary, imports of some goods from Cambodian market increased sharply, of which, soybeans increased by 799.4%; tobacco raw materials increased by 222.5%; textile, garment, leather and footwear raw materials increased by 103.06%; ores and other minerals increased by 72.79%;…
Regarding soybeans, according to report of Ministry of Agriculture and Rural Development, volume and value of soybean imports in October 2024 are estimated at 260,000 tonnes and 127.7 million USD, bringing total volume and value of soybean imports in the first 10 months of 2024 to 1.85 million tons and 953 million USD, up 15.1% in volume but down 6.4% in value compared to the same period in 2023. Average imported soybean price in the first 10 months of 2024 reached 514.4 USD/tonne, down 18.7% compared to the same period in 2023.
Brazil, the United States and Canada are 3 main soybean suppliers to Vietnam in the first 8 months of 2024 with a total market share of 97.3%. Compared to the same period in 2023, Vietnam's soybean import value from these three markets all decreased by 1.6%, 22.5% and 3.1%, respectively.
Thus, among the three largest soybean suppliers of Vietnam, there is no Cambodian market.

Source: Vitic/ congthuong.vn
 

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