Prices plummeted, soybeans from Cambodia flooded into Vietnam: output increased nearly 1,000%, our country's imports are top 3 in the world

Published 2024년 6월 24일

Tridge summary

Vietnam's soybean imports from May 2024 to May 2024 show a decrease in turnover and price but an increase in volume compared to the previous month. The first five months of 2024 saw a 12,000 USD/ton increase in soybean price, a 6% increase in volume, an 11.2% decrease in turnover, and a 21.2% decrease in price compared to the same period in 2023. Brazil was the largest supplier of soybeans to Vietnam, followed by the US and Canada. Imports from Cambodia saw a significant increase compared to the previous year. Vietnam ranks as the 3rd largest soybean meal importer and the 9th largest soybean importer in the world, with a consistent average consumption of nearly 2 million tons of soybeans per year for the past decade. The decrease in soybean prices and increase in live pig prices have been beneficial for farmers.

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, Vietnam's soybean imports in the first 5 months of 2024 reached 988,564 tons, worth nearly 522.1 million USD, average price 528.1 USD/ton, an increase of 12,000 USD/ton. 6% in volume, but down 11.2% in turnover and 21.2% in price compared to the first 5 months of 2023. In May 2024 alone, imports reached 225,917 tons, equivalent to 114.34 million USD, average price 506.1 USD/ton, up 1.4% in volume, up 2.7% in turnover compared to April/ton. 2024, and prices increase by 1.3%; Compared to May 2023, it increased sharply by 60.3% in volume, increased by 32.4% in turnover but decreased by 17.5% in price. Brazil is the largest market supplying soybeans to Vietnam in the first 5 months of 2024, accounting for nearly 57.8% of the total volume and 55.6% of the country's total soybean import turnover, reaching 571,686 tons. , equivalent to nearly 290.27 million USD, price 507.8 USD/ton, up ...

Source: AgroInfo.vn