Vietnam: Grain Market 2024

Grain Market Size in Vietnam

In 2022, after two years of growth, there was decline in the Vietnamese grain market, when its value decreased by X% to $X. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Grain Production in Vietnam

In value terms, grain production expanded slightly to $X in 2022 estimated in export price. Overall, production recorded a pronounced setback. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of grain in Vietnam dropped modestly to X tons per ha, remaining constant against the year before. Overall, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the yield increased by X% against the previous year. The grain yield peaked at X tons per ha in 2021, and then contracted in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of grain in Vietnam stood at X ha, approximately reflecting the previous year. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2014 to 2022, the growth of the grain harvested area failed to regain momentum.

Grain Exports

Exports from Vietnam

After six years of growth, shipments abroad of grain decreased by X% to X tons in 2022. In general, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, grain exports shrank to $X in 2022. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank in the following year.

Exports by Country

The Philippines (X tons) and Cambodia (X tons) were the main destinations of grain exports from Vietnam.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of X%).

In value terms, the largest markets for grain exported from Vietnam were the Philippines ($X) and Cambodia ($X).

The Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average grain export price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to the Philippines amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced a decline.

Grain Imports

Imports into Vietnam

Grain imports into Vietnam stood at X tons in 2022, remaining stable against the year before. In general, imports saw a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, grain imports shrank to $X in 2022. Over the period under review, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of grain to Vietnam, with a X% share of total imports. Moreover, grain imports from Argentina exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. The third position in this ranking was taken by Brazil (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and Brazil (X% per year).

In value terms, the largest grain suppliers to Vietnam were Argentina ($X), Australia ($X) and Brazil ($X), with a combined X% share of total imports. India, South Africa, Pakistan, Myanmar and the United States lagged somewhat behind, together accounting for a further X%.

South Africa, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average grain import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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