Brazil represents largest soybean suppliers to Vietnam

Published 2024년 11월 25일

Tridge summary

Brazil has been the leading supplier of soybeans to Vietnam over the past ten months, delivering 1.07 million tons valued at US$535.76 million, a 20% increase in volume and 0.9% increase in value compared to the same period previous. Brazil's soybean supply represented 59.2% of the total volume and 57.3% of the total soybean import turnover in Vietnam. Following Brazil, the US and Canada were the next largest suppliers. Vietnam's domestic production of soybeans is not sufficient to meet its consumption and processing needs, so it relies heavily on imports, mainly of genetically modified varieties. The country is the third largest importer of soybean meal and the ninth largest importer of soybeans globally.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Brazil was the largest soybean supplier to Vietnam during the past ten months of this year, reaching 1.07 million tons, equivalent to nearly US$535.76 million, up 20% in volume and 0.9% in value over the same period, according to preliminary statistics released by the General Department of Customs. Throughout the reviewed period, the South American country's soybean supply accounted for 59.2% of the total volume and 57.3% of the total soybean import turnover of Vietnam. The past ten months saw the nation’s soybean imports hit close to 1.82 million tons, worth nearly US$935.84 million. The second largest market was the US, with 568,705 tons, equivalent to US$301.57 million, accounting for 31.3% of the total volume and 32.2% of the total soybean import turnover. It was trailed by the Canadian market, with 109,005 tons valued at US$ 64.42 million, making up for 6% of the total volume and 6.9% of the total soybean import turnover of the nation. In Vietnam, soybeans are grown in 26 ...

Source: WTOCenter