| Vietnam spent 4.27 billion USD importing animal feed and raw materials. In 2023, Vietnam spent about 6.8 billion USD importing animal feed raw materials. |
The Ministry of Agriculture and Rural Development said that the import value of animal feed and raw materials in December 2023 is estimated at 400 million USD, bringing the total import value of animal feed and raw materials in 2023 to 4.99 billion USD, down 10.8% compared to 2022.
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| In 2023, Vietnam will spend nearly 5 billion USD to import animal feed and raw materials. |
In terms of goods, the volume of soybean imports in December 2023 is estimated at 310 thousand tons with an estimated value of 186 million USD, bringing the total volume and value of soybean imports in 2023 to 1.97 million tons and 1.24 billion USD, up 6.9% in volume but down 3.2% in value compared to 2022.
The average imported soybean price in early 2023 is estimated at 628 USD/ton, down 9.5% compared to 2022. Brazil, the United States and Canada are the three main soybean suppliers to Vietnam in the first 11 months of 2023 with a total market share of 94.9%. Compared to the same period in 2022, Vietnam's soybean import value from the US market increased by 15%; Canada increased by 19%. In contrast, soybean imports from the Brazilian market decreased by 23.2%.
Wheat imports in December are estimated to reach 1.1 million tons with an import value of 303 million USD, bringing the total volume and value of wheat imports in 2023 to 5.09 million tons and 1.67 billion USD, up 30.2% in volume and 10.9% in value compared to 2022.
The average imported wheat price in 2023 is estimated at 328 USD/ton, down 14.8% compared to 2022.
In the first 11 months of 2023, Vietnam's main wheat import sources were from the following markets: Australia (accounting for 65.5%), the United States (10.4%) and Brazil (7%). Compared to the same period in 2022, Vietnam's wheat import value from the United States increased by 21.8% while imports from Brazil decreased by 14.9% and Australia decreased by 13.2%;
The volume of imported corn in December is estimated at 1.4 million tons with a value of 362 million USD, bringing the total volume and value of corn imports in 2023 to 9.76 million tons and 2.88 billion USD, up 1.6% in volume but down 13.7% in value compared to 2022.
The average imported corn price in 2023 is estimated at 295 USD/ton, down 15.1% compared to 2022.
In the first 11 months of 2023, Vietnam's corn imports mainly came from three markets: Brazil, Argentina and India, with a total market share of 89.5%. Compared to the same period in 2022, the value of corn imports from Brazil increased by 2.98 times, India increased by 62.8%, while imports from Argentina decreased by 49.8%.
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