Vietnam: Groundnuts Market 2025

Groundnuts Market Size in Vietnam

The Vietnamese groundnuts market declined slightly to $X in 2022, which is down by -1.8% against the previous year. Over the period under review, consumption recorded a pronounced slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Groundnuts Production in Vietnam

In value terms, groundnuts production fell to $X in 2022 estimated in export price. In general, production recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. Groundnuts production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of ground-nut (in-shell) in Vietnam reduced to X tons per ha in 2022, which is down by -1.9% compared with the previous year. The yield figure increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 6.5% against the previous year. The groundnuts yield peaked at X tons per ha in 2021, and then fell modestly 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 total area harvested in terms of ground-nut (in-shell) production in Vietnam reached X ha, approximately equating the previous year's figure. Over the period under review, the harvested area, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 5.7% against the previous year. The groundnuts harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Groundnuts Exports

Exports from Vietnam

Groundnuts exports from Vietnam rose notably to X tons in 2022, surging by 8.7% compared with 2021. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 585%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, groundnuts exports expanded rapidly to $X in 2022. Overall, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by 440% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for groundnuts exports from Vietnam, accounting for a 55% share of total exports. Moreover, groundnuts exports to China exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+185.5% per year) and Germany (+21.2% per year).

In value terms, Singapore ($X) emerged as the key foreign market for ground-nut (in-shell) exports from Vietnam, comprising 46% of total exports. The second position in the ranking was held by China ($X), with a 23% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore stood at +230.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-20.6% per year) and Germany (+28.2% per year).

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, picking up by 3.8% against the previous year. Overall, the export price, however, continues to indicate a noticeable downturn. The growth pace was the most rapid in 2017 an increase of 14% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Groundnuts Imports

Imports into Vietnam

After two years of decline, supplies from abroad of ground-nut (in-shell) increased by 147% to X tons in 2022. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 546%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, groundnuts imports soared to $X in 2022. Over the period under review, imports saw prominent growth. The growth pace was the most rapid in 2019 when imports increased by 498%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Myanmar (X tons) was the main supplier of groundnuts to Vietnam, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar stood at +43.9%.

In value terms, Myanmar ($X) constituted the largest supplier of ground-nut (in-shell) to Vietnam.

From 2012 to 2022, the average annual growth rate of value from Myanmar amounted to +66.3%.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, with an increase of 30% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 47%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Myanmar amounted to +15.6% per year.

Source: IndexBox Platform

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