Vietnam: Maize Market 2025

Maize Market Size in Vietnam

In 2022, after four years of growth, there was decline in the Vietnamese maize market, when its value decreased by -4.7% to $X. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +24.7% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2021, and then reduced in the following year.

Maize Production in Vietnam

In value terms, maize production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average maize yield in Vietnam fell modestly to X tons per ha, remaining constant against 2021 figures. The yield figure increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the yield increased by 3.1% against the previous year. Over the period under review, the average maize yield hit record highs at X tons per ha in 2021, and then reduced slightly 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 maize production in Vietnam rose modestly to X ha, increasing by 2.2% against the previous year. Over the period under review, the harvested area, however, recorded a noticeable downturn. Over the period under review, the harvested area dedicated to maize production reached the maximum at X ha in 2014; however, from 2015 to 2022, the harvested area stood at a somewhat lower figure.

Maize Exports

Exports from Vietnam

In 2022, after six years of growth, there was significant decline in shipments abroad of maize, when their volume decreased by -14.7% to X tons. In general, exports, however, showed significant growth. The pace of growth was the most pronounced in 2016 with an increase of 487%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, maize exports declined to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 312% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined in the following year.

Exports by Country

Cambodia (X tons), the Philippines (X tons) and Malaysia (X tons) were the main destinations of maize exports from Vietnam, together comprising 95% of total exports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +102.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize exported from Vietnam were the Philippines ($X), Cambodia ($X) and Lao People's Democratic Republic ($X), with a combined 91% share of total exports.

Among the main countries of destination, Cambodia, with a CAGR of +70.1%, saw the highest rates of growth with regard to 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

The average maize export price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the export price, however, faced a deep downturn. The pace of growth appeared the most rapid in 2018 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Cambodia ($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 the Philippines (-7.8%), while the prices for the other major destinations experienced a decline.

Maize Imports

Imports into Vietnam

Maize imports into Vietnam amounted to X tons in 2022, growing by 9.6% compared with the year before. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 118% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, maize imports contracted to $X in 2022. In general, imports showed prominent growth. The pace of growth appeared the most rapid in 2014 when imports increased by 81% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Argentina (X tons) constituted the largest maize supplier to Vietnam, accounting for a 53% share of total imports. Moreover, maize imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina stood at +43.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+20.3% per year) and India (+1.1% per year).

In value terms, Argentina ($X) constituted the largest supplier of maize to Vietnam, comprising 51% of total imports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total imports. It was followed by India, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina stood at +34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+15.5% per year) and India (-2.4% per year).

Import Prices by Country

In 2022, the average maize import price amounted to $X per ton, with a decrease of -15.1% against the previous year. Over the period under review, the import price showed a perceptible setback. The pace of growth appeared the most rapid in 2021 when the average import price increased by 38%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Africa ($X per ton) and India ($X per ton), while the price for Russia ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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