Laotian corn arrives in Vietnam at surprisingly low prices: Spending more than 1 billion USD to buy goods, our country is the top importer in the world

Published 2024년 10월 9일

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Vietnam's corn imports in August reached over 1.19 million tons with a value of more than 284 million USD, marking a 33.3% increase in volume and a 32.6% increase in turnover compared to July. In the first eight months of the year, the country imported over 6.9 million tons of corn, valued at over 1.7 billion USD, a 29.5% increase in volume and a 0.07% increase in turnover year-over-year. The average import price was 247 USD/ton, a 23% decrease from the same period last year. Argentina was the largest corn supplier to Vietnam, followed by Brazil, and recently, Laos has become a significant supplier, despite having a small market share. The article also discusses the global outlook for corn, including USDA forecasts that global corn output for the 2024/25 crop year is expected to decrease by 0.7% due to declines in output in the US and Ukraine, and the impact of these trends on major corn consumers like China and the European Union.

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

Original content

Source: markettimes.vn According to preliminary statistics from the General Department of Customs, corn imports to Vietnam in August reached more than 1.19 million tons with a value of more than 284 million USD, up 33.3% in volume and 32.6% in turnover compared to July. In the first 8 months of the year, our country imported more than 6.9 million tons of corn, equivalent to more than 1.7 billion USD, up 29.5% in volume and 0.07% in turnover compared to the first 8 months of 2023. The average import price reached 247 USD/ton, down 23% over the same period last year. In terms of markets, Argentina is the largest corn supplier to Vietnam in the first 8 months with more than 4 million tons, worth more than 978 million USD, up 106.5% in volume, up 57.9% in turnover compared to the first 8 months of 2023. The second largest market is Brazil with nearly 1.79 million tons, equivalent to 453 million USD, up 3.9% in volume but down 18.9% in turnover compared to the first 8 months of 2023. ...

Source: AgroInfo.vn