Vietnam: Non-Wheat Cereal Pellets Market 2024

Non-Wheat Cereal Pellets Market Size in Vietnam

In 2021, the Vietnamese non-wheat cereal pellets market decreased by -11% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption recorded a perceptible reduction. Non-wheat cereal pellets consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Non-Wheat Cereal Pellets Production in Vietnam

In value terms, non-wheat cereal pellets production dropped to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2018 with an increase of 37% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Non-Wheat Cereal Pellets Exports

Exports from Vietnam

In 2021, shipments abroad of cereal pellets (excluding wheat) decreased by -2.8% to X tons, falling for the fourth consecutive year after two years of growth. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 1,216% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-wheat cereal pellets exports fell to $X in 2021. Over the period under review, exports, however, posted a modest increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,028%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons) was the main destination for non-wheat cereal pellets exports from Vietnam, with a 87% share of total exports. Moreover, non-wheat cereal pellets exports to the Philippines exceeded the volume sent to the second major destination, Nigeria (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (0.0% per year) and France (-16.1% per year).

In value terms, the Philippines ($X) remains the key foreign market for cereal pellets (excluding wheat) exports from Vietnam, comprising 82% of total exports. The second position in the ranking was held by Nigeria ($X), with a 9.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Philippines was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (0.0% per year) and France (-14.7% per year).

Export Prices by Country

The average non-wheat cereal pellets export price stood at $X per ton in 2021, reducing by -5% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 35% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+1.7%).

Non-Wheat Cereal Pellets Imports

Imports into Vietnam

In 2021, after four years of decline, there was significant growth in purchases abroad of cereal pellets (excluding wheat), when their volume increased by 69% to X tons. Over the period under review, imports continue to indicate a moderate expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 734% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, non-wheat cereal pellets imports totaled $X in 2021. In general, imports, however, showed a noticeable setback. The pace of growth was the most pronounced in 2016 with an increase of 675%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) was the main non-wheat cereal pellets supplier to Vietnam, accounting for a 96% share of total imports. It was followed by Belgium (X kg), with a 2.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+18.3% per year) and South Korea (+9.7% per year).

In value terms, the United States ($X) constituted the largest supplier of cereal pellets (excluding wheat) to Vietnam, comprising 79% of total imports. The second position in the ranking was held by Belgium ($X), with an 8.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +43.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+71.2% per year) and South Korea (+18.7% per year).

Import Prices by Country

In 2021, the average non-wheat cereal pellets import price amounted to $X per ton, falling by -37.1% against the previous year. In general, the import price saw a abrupt slump. The pace of growth was the most pronounced in 2019 when the average import price increased by 52%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+8.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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