Vietnam: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Vietnam

The Vietnamese preserved sweet corn market soared to $X in 2022, picking up by 300% against the previous year. Over the period under review, consumption, however, saw a deep reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Preserved Sweet Corn Production in Vietnam

In value terms, preserved sweet corn production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of 22% against the previous year. Preserved sweet corn production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of sweet corn prepared or preserved in Vietnam was estimated at less than X kg per ha in 2022, almost unchanged from 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.

In 2022, the total area harvested in terms of sweet corn prepared or preserved production in Vietnam totaled less than X ha, almost unchanged from 2021. In general, the harvested area continues to indicate a relatively flat trend pattern.

Preserved Sweet Corn Exports

Exports from Vietnam

Preserved sweet corn exports from Vietnam dropped to X tons in 2022, waning by -11.4% compared with the previous year's figure. Over the period under review, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 86%. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, preserved sweet corn exports shrank to $X in 2022. Overall, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 132% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and Germany (X tons) were the main destinations of preserved sweet corn exports from Vietnam, together comprising 84% of total exports. Sweden, Australia, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +69.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Germany ($X) constituted the largest markets for preserved sweet corn exported from Vietnam worldwide, together comprising 84% of total exports. Sweden, Australia, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together comprising a further 11%.

Australia, with a CAGR of +74.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination 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 preserved sweet corn export 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 pace of growth appeared the most rapid in 2013 when the average export price increased by 25%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; afterwards, it flattened through to 2022.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per ton) and the United States ($X per ton), while the average price for exports to Australia ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sweet Corn Imports

Imports into Vietnam

In 2022, preserved sweet corn imports into Vietnam dropped dramatically to X tons, which is down by -15.2% against the previous year. Over the period under review, imports, however, continue to indicate a modest expansion. The pace of growth was the most pronounced in 2016 when imports increased by 52% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank rapidly in the following year.

In value terms, preserved sweet corn imports contracted remarkably to $X in 2022. Overall, imports, however, showed a noticeable increase. The pace of growth was the most pronounced in 2018 with an increase of 65%. Imports peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of preserved sweet corn to Vietnam, with a 60% share of total imports. Moreover, preserved sweet corn imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+242.3% per year) and the United States (-5.5% per year).

In value terms, the largest preserved sweet corn suppliers to Vietnam were Thailand ($X), China ($X) and the United States ($X).

China, with a CAGR of +249.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average preserved sweet corn import price amounted to $X per ton, dropping by -2.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2018 an increase of 11% against the previous year. The import price peaked at $X per ton in 2021, and then declined modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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