Corn, soybeans and wheat are all common and familiar grains. Every year, our country has to spend a huge amount of money up to several million USD to import these nuts.
Preliminary statistics from the General Department of Customs, in just the first 75 days of 2024, Vietnamese businesses spent more than 1,22 billion USD to import 4,14 million tons of corn, soybeans and wheat from countries and regions. territories in the world.
Specifically, as of February 15, our country spent 2 million USD to import nearly 602 million tons of corn. Compared to the same period last year, the amount of corn imported increased by 2,38% but the value decreased by 23,7% because the price of this commodity cooled.
Similarly, soybean imports amounted to over 440 thousand tons, with a value of 247 million USD, an increase of 11% in volume but a decrease in value of 10,8%.
Wheat imports amounted to more than 1,32 million tons, with a value of 370 million USD, a sharp increase of 42% in volume and an increase of 7,5% over the same period last year.
These items are imported mainly to serve the needs of animal feed production. Because the domestic raw material production capacity for the animal feed industry is limited, Vietnam depends heavily on imported goods.
It is estimated that imported animal feed ingredients account for about 65% of the total domestic demand for animal feed ingredients.
According to experts and businesses, at the beginning of this year, the prices of grains such as corn, soybeans and wheat were relatively cheap compared to the same period last year, so manufacturing businesses aggressively bought them.
Last year, Vietnam imported 9,7 million tons of corn, worth up to 2,87 billion USD, an increase of 1,6% in volume but a decrease of 13,7% in value compared to 2022. In addition, Vietnam We also imported 1,86 million tons of soybeans, worth 1,17 billion USD; wheat is 4,68 million tons and worth 1,56 billion USD.
