November 2023, from which markets will Vietnam import wheat?

Vietnam's wheat imports from the US surged in August, marking the first 10 months of 2023, making it the largest wheat importer from these markets.

According to preliminary statistics from the General Department of Customs, in November 2023, the whole country imported 267,602 tons of wheat, equivalent to 78.32 million USD, with an average price of 292.7 USD/ton, a decrease in both quantity, value, and price compared to October 2023, with reductions of 35.5%, 39.9%, and 6.9% respectively. Compared to November 2022, there was a decrease of 12.8% in quantity, 33.2% in value, and 23.4% in price.

Overall, in the first 11 months of 2023, the country's wheat imports reached over 3.99 million tons, equivalent to nearly 1.37 billion USD, an increase of 8.2% in volume but a decrease of 4% in value compared to the same period in 2022, with an average price of 342 USD/ton, a decrease of 11.2%.

In November 2023, wheat imports from the main market, Australia, decreased sharply by 69.4% in volume, 70% in value, and 1.8% in price compared to October 2023, reaching 44,842 tons, equivalent to US$14.17 million, at a price of US$316/ton; compared to November 2022, there was a decrease of 74.1% in volume, 79.7% in value, and 21.6% in price.


In the first 11 months of 2023, wheat imports reached over 3.99 million tons, equivalent to nearly $1.37 billion. (Photo: Reuters)

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In the first 11 months of 2023, wheat imports reached over 3.99 million tons, equivalent to nearly $1.37 billion. (Photo: Reuters)

Overall, in the first 11 months, wheat imports from Australia accounted for 65.7% of the total volume and 65.5% of the total value of wheat imports nationwide, reaching 2.62 million tons, equivalent to 895.33 million USD, with an average price of 3412.4 USD/ton, a decrease of 1.4% in volume, 13.2% in value, and 11.9% in price compared to the same period in 2022.

Following that, the US market accounted for 9.3% of the total volume and 10.4% of the total value, reaching 372,279 tons, equivalent to $141.96 million, with an average price of $381.3/ton, an increase of 48.4% in volume, a 21.8% increase in value, but a 17.9% decrease in price compared to the same period in 2022.

Brazil ranked third with 261,611 tons, equivalent to $95.82 million, at a price of $366.3/ton, a decrease of 19% in volume and 14.9% in value, but an increase of 5% in price compared to the same period last year. This accounted for 6.6% of the total volume and 7% of the total value of wheat imports nationwide.

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