Vietnam imports an agricultural product from the Cambodian market up nearly 938.1%

According to preliminary statistics from the General Department of Customs, Vietnam's soybean imports in the first 5 months of 2024 reached 988,564 tons, worth nearly 522.1 million USD, with an average price of 528.1 USD/ton, up 12.6% in volume, but down 11.2% in value and down 21.2% in price compared to the first 5 months of 2023.

In May 2024 alone, imports reached 225,917 tons, equivalent to 114.34 million USD, with an average price of 506.1 USD/ton, up 1.4% in volume, up 2.7% in turnover compared to April 2024, and prices increased by 1.3%; compared to May 2023, there was a sharp increase of 60.3% in volume, up 32.4% in turnover but down 17.5% in price.

Vietnam imports an agricultural product from the Cambodian market up nearly 938.1%

Brazil is the largest market supplying soybeans to Vietnam in the first 5 months of 2024, accounting for nearly 57.8% of the total volume and 55.6% of the total soybean import turnover of the country, reaching 571,686 tons, equivalent to nearly 290.27 million USD, priced at 507.8 USD/ton, up 65.2% in volume, up 31.7% in turnover but down 20.3% in price compared to the first 5 months of 2023.

The second largest market is the US, in the first 5 months of 2024 reaching 332,464 tons, equivalent to 182.7 million USD, price 549.5 USD/ton, accounting for 33.6% of the total volume and 35% of the total soybean import turnover of the country, down 25.2% in volume, down 40.2% in turnover and down 20% in price compared to the first 5 months of 2023.

Ranked third is the Canadian market, in the first 5 months of 2024 reaching 47,731 tons, equivalent to 29.28 million USD, price 613.5 USD/ton, accounting for 4.8% of the total volume and 5.1% of the total soybean import turnover of the whole country, down 8.1% in volume, down 24.7% in turnover and down 18% in price compared to the same period last year.

In particular, Cambodia is currently Vietnam's most active trading partner. Specifically, imports from the Cambodian market in May 2024 reached 407 tons, equivalent to 286.15 thousand USD. Meanwhile, in May 2023, Vietnam did not import from this country.

In the first 5 months, imports from the Cambodian market reached 3,322 tons, equivalent to 2.4 million USD, priced at 719.8 USD/ton, up nearly 938.1% in volume, up 851.6% in turnover but prices down 8.3% over the same period.

Currently, Vietnam is the third largest importer of soybean meal and the ninth largest importer of soybeans in the world. In the past 10 years, our country has consumed an average of nearly 2 million tons of soybeans each year. Thanks to the decrease in soybean prices and the increase in pork prices, farmers have benefited from the beginning of the year until now.

Soybean futures traded on the Chicago Board of Trade (CBOT) have fallen more than 37% over the past two years. They have also fallen nearly 13% since the start of the year, and are now at their lowest level since November 2020.

Source: https://congthuong.vn/viet-nam-nhap-khau-mot-loai-nong-san-tu-thi-truong-camuchia-tang-gan-9381-327856.html