The Ministry of Agriculture and Rural Development said that the import value of animal feed and raw materials in December 2023 is estimated to reach 400 million USD, bringing the total import value of animal feed and raw materials in 2023 to reach 4.99 billion USD, down 10.8% compared to 2022.

In 2023, Vietnam will spend nearly 5 billion USD importing animal feed and raw materials

In terms of goods, the soybean import volume in December 2023 is estimated to reach 310 thousand tons with an estimated value of 186 million USD, bringing the total soybean import volume and value in 2023 to 1.97 million tons and 1. 24 billion USD, up 6.9% in volume but down 3.2% in value compared to 2022.

The average imported soybean price in early 2023 is estimated to reach 628 USD/ton, down 9.5% compared to 2022. Brazil, the United States and Canada are the three main soybean supply markets for Vietnam in the first 11 months of the year. 2023 with a total market share of 94.9%. Compared to the same period in 2022, Vietnam's soybean import value from the US market increased by 15%; Canada increased by 19%. In contrast, soybean imports from the Brazilian market decreased by 23.2%.

Estimated wheat imports in December reached 1.1 million tons with an import value of 303 million USD, bringing the total volume and value of wheat imports in 2023 to 5.09 million tons and 1.67 billion USD, an increase 30.2% in volume and 10.9% increase in value compared to 2022.

The average imported wheat price in 2023 is estimated to reach 328 USD/ton, down 14.8% compared to 2022.

In the first 11 months of 2023, Vietnam's main wheat import sources are from the following markets: Australia (accounting for 65.5%), the United States (10.4%) and Brazil (7%). Compared to the same period in 2022, Vietnam's wheat import value from the United States increased by 21.8% while imports from Brazil decreased by 14.9%, Australia decreased by 13.2%;

The volume of corn imports in December is estimated to reach 1.4 million tons with a value of 362 million USD, bringing the total volume and value of corn imports in 2023 to 9.76 million tons and 2.88 billion USD, an increase of 1. 6% in volume but down 13.7% in value compared to 2022.

The average imported corn price in 2023 is estimated to reach 295 USD/ton, down 15.1% compared to 2022.

In the first 11 months of 2023, Vietnam's corn imports are mainly from three markets: Brazil, Argentina and India with a total market share of 89.5%. Compared to the same period in 2022, the value of corn imports from Brazil is 2.98 times higher, India increases by 62.8%, while imports from Argentina decrease by 49.8%.