Report Update Nov 1, 2024

Vietnam - Sorghum - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Sorghum Market 2024

Sorghum Market Size in Vietnam

The Vietnamese sorghum market contracted sharply to $X in 2022, shrinking by -42.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt contraction. Sorghum consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sorghum Exports

Exports from Vietnam

In 2022, shipments abroad of sorghum was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 416%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, sorghum exports expanded sharply to $X in 2022. In general, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2018 when exports increased by 37% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for sorghum exports from Vietnam, with a 98% share of total exports. It was followed by Indonesia (X kg), with a 2.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +12.1%.

In value terms, Germany ($X) remains the key foreign market for sorghum exports from Vietnam, comprising 98% of total exports. The second position in the ranking was held by Indonesia ($X), with a 2.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to -12.2%.

Export Prices by Country

The average sorghum export price stood at $X per ton in 2022, which is down by -20.7% against the previous year. In general, the export price faced a sharp slump. The most prominent rate of growth was recorded in 2018 an increase of 186% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign 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 Indonesia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-21.7%).

Sorghum Imports

Imports into Vietnam

In 2022, approx. X tons of sorghum were imported into Vietnam; falling by -42.5% on 2021 figures. Over the period under review, imports continue to indicate a precipitous slump. The pace of growth appeared the most rapid in 2021 when imports increased by 572%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sorghum imports contracted notably to $X in 2022. Overall, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 577% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest sorghum supplier to Vietnam, with a 52% share of total imports. Moreover, sorghum imports from Ukraine exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. India (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine totaled -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-9.6% per year) and India (-29.1% per year).

In value terms, Australia ($X) constituted the largest supplier of sorghum to Vietnam, comprising 62% of total imports. The second position in the ranking was held by Ukraine ($X), with a 21% share of total imports. It was followed by India, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia stood at -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-10.2% per year) and India (-27.3% per year).

Import Prices by Country

In 2022, the average sorghum import price amounted to $X per ton, leveling off at the previous year. Overall, the import price, however, recorded a buoyant increase. The growth pace was the most rapid in 2018 an increase of 236%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Ukraine ($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 (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sorghum in the world?

The countries with the highest volumes of sorghum consumption in 2021 were China, Nigeria and Ethiopia, with a combined 35% share of global consumption.

What are the largest producers of sorghum in the world?

The countries with the highest volumes of sorghum production in 2021 were the United States, Nigeria and Ethiopia, together accounting for 36% of global production. These countries were followed by Mexico, India, China, Sudan, Brazil, Niger, Burkina Faso, Argentina, Mali and Cameroon, which together accounted for a further 46%.

What are the leading suppliers of sorghum to Vietnam?

In value terms, the largest sorghum suppliers to Vietnam were Australia, the United States and Ukraine, together comprising 93% of total imports.

What are the leading importers of sorghum from Vietnam?

In value terms, Germany $566) remains the key foreign market for sorghum exports from Vietnam.

What is the average export price for sorghum in Vietnam?

The average sorghum export price stood at $462 per ton in 2021, with an increase of 5.4% against the previous year.

What is the average import price for sorghum in Vietnam?

In 2021, the average sorghum import price amounted to $480 per ton, increasing by 6.3% against the previous year.

This report provides an in-depth analysis of the sorghum market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 83 - Sorghum

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023