Vietnam: Maize Market 2025

Maize Market Size in Vietnam

The Vietnamese maize market surged to $X in 2022, increasing by 27% against the previous year. In general, consumption, however, saw a deep slump. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Maize Production in Vietnam

In value terms, maize production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a slight decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 7.4%. Maize production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of maize (green) in Vietnam amounted to less than X kg per ha in 2022, remaining stable against the previous year. Over the period under review, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The maize harvested area in Vietnam stood at less than X ha in 2022, remaining stable against 2021 figures. In general, the harvested area recorded a relatively flat trend pattern.

Maize Exports

Exports from Vietnam

In 2022, the amount of maize (green) exported from Vietnam fell to X tons, dropping by -6.9% compared with the year before. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 217%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, maize exports fell to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 228% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Switzerland (X tons) was the main destination for maize exports from Vietnam, with a 34% share of total exports. Moreover, maize exports to Switzerland exceeded the volume sent to the second major destination, Russia (X tons), twofold. Canada (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Switzerland totaled +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+48.5% per year) and Canada (+5.0% per year).

In value terms, the largest markets for maize exported from Vietnam were Switzerland ($X), Canada ($X) and Russia ($X), with a combined 63% share of total exports. Germany, the Czech Republic, the Netherlands, the United Arab Emirates, Norway and Cambodia lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +73.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 when the average export price increased by 29%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the Czech Republic ($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 Germany (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Vietnam

In 2022, supplies from abroad of maize (green) decreased by -20.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 231%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, maize imports reduced rapidly to $X in 2022. In general, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 244% against the previous year. Imports peaked at $X in 2021, and then shrank notably in the following year.

Imports by Country

The United States (X tons), China (X tons) and Australia (X tons) were the main suppliers of maize imports to Vietnam, with a combined 87% share of total imports. The Netherlands, France and Thailand lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +54.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of maize (green) to Vietnam, comprising 43% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia stood at +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.1% per year) and the Netherlands (+44.1% per year).

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2013 an increase of 20%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+50.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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