Wheat imports from Ukraine market increased sharply by 1,266%

Wheat imports to Vietnam increased sharply by 18.3% Wheat imports from the Ukrainian market increased by more than 800% in 8 months

According to preliminary statistics from the General Department of Customs, in September 2024, the country imported 843,823 tons of wheat, equivalent to 226.43 million USD, with an average price of 268.3 USD/ton, a sharp increase of 212.9% in volume and 209% in value compared to August 2024, but the price decreased slightly by 1.2%. Compared to September 2023, it also increased by 274.4% in volume, increased by 227.3% in value, but decreased by 12.6% in price.

In the first 9 months of 2024, the country's imported wheat volume reached over 4.55 million tons, equivalent to over 1.25 billion USD, an increase of 37.9% in volume and 8.6% in value compared to the first 9 months of 2023, with an average price of 275.5 USD/ton, down 21.2%.

Wheat imports from the main market Brazil in the first 9 months of 2024 accounted for 25.8% of the total volume and 23.4% of the total wheat import turnover of the whole country, reaching over 1.17 million tons, equivalent to 293.14 million USD, the average price was 249.6 USD/ton, a sharp increase of 348.9% in volume, 205.9% in turnover but a decrease of 31.9% in price compared to the first 9 months of 2023. In September 2024, no wheat was imported from this market.

Nhập khẩu lúa mì từ thị trường Ukraine tăng mạnh 1.266%

Wheat imports from the Ukrainian market increased sharply by 1,266% in volume. Illustrative photo

Behind the main market Brazil is the Ukrainian market, accounting for 24.7% of the total volume and 23% of the total turnover, reaching 1.13 million tons, equivalent to over 287.87 million USD, with an average price of 255.7 USD/ton, a sharp increase of 1,266% in volume, an increase of 1,132% in turnover but a decrease of 9.8% in price compared to the first 9 months of 2023.

Next, the Australian market reached 898,241 tons, equivalent to 276.68 million USD, price 308 USD/ton, accounting for 19.7% of the total volume and 22% of the total wheat import turnover of the country, down sharply by 63% in volume, down 66.8% in turnover and down 10.2% in price.

Nhập khẩu lúa mì từ Ukraine tăng nóng hơn 1.266 %

Wheat imports in the first 9 months of 2024 - calculated according to data from the General Department of Customs. Source: Vinanet

Wheat imports from the US market reached 378,254 tons, equivalent to 121.04 million USD, priced at 320 USD/ton, up 43.9% in volume, up 17% in value but down 18.7% in price compared to the first 9 months of 2023.

The International Grains Council (IGC) in its April report revised down its global wheat production forecast for 2024-25 by about 1.1 million tonnes from its March report to 797.7 million tonnes. This output represents a modest 1.1% increase from the previous season.

According to calculations, with the current world population, the demand for wheat is expected to be greater than 800 million tons. It is foreseeable that the wheat supply-demand balance will be in deficit for the fifth consecutive year. In addition, IGC also adjusted down 3.6 million tons of ending stock in the 2023-2024 season compared to the March figure.

IGC forecasts consumption demand for the 2024-2025 crop to be around 802 million tons, resulting in ending inventory of around 259 million tons, around 4.9 million tons lower than ending inventory of 2023-2024. The ending inventory ratio of 2024-2025 is around 32.3% of total consumption demand.

Source: https://congthuong.vn/nhap-khau-lua-mi-tu-thi-truong-ukraine-tang-manh-1266-353075.html