Soybean imports from Cambodia increased nearly 8 times

Among the items Vietnam imported from Cambodia, soybeans recorded a record increase, up 799.4%, equivalent to nearly 8 times in the first 9 months of 2024.

According to data from the General Department of Vietnam Customs, in the first 9 months of 2024, the total import-export turnover between Vietnam and Cambodia reached 7.5 billion USD, an increase of 15.4% over the same period in 2023.... In particular, Vietnam's import-export turnover to Cambodia includes important items such as textiles, iron and steel of all kinds, petroleum of all kinds, and agricultural products of all kinds.

Soybean imports from Cambodia increased nearly eight times. (Photo: MH)

Among the export items, rubber products recorded the highest export growth rate, reaching 102.58% over the same period last year; coffee exports increased by 71.21% over the same period last year; other base metal exports and products increased by 56.51%; confectionery and cereal products exports increased by 55.44%; fruit and vegetable exports increased by 51.55% over the same period last year;…

On the contrary, imports of some items from the Cambodian market increased sharply, of which, soybeans increased by 799.4%; tobacco raw materials increased by 222.5%; textile, garment, leather and footwear raw materials increased by 103.06%; ores and other minerals increased by 72.79%;...

Regarding soybeans, according to the report of the Ministry of Agriculture and Rural Development , the volume and value of soybean imports in October 2024 are estimated at 260 thousand tons and 127.7 million USD, bringing the total volume and value of soybean imports in the first 10 months of 2024 to 1.85 million tons and 953 million USD, up 15.1% in volume but down 6.4% in value compared to the same period in 2023. The average imported soybean price in the first 10 months of 2024 reached 514.4 USD/ton, down 18.7% compared to the same period in 2023.

Brazil, the United States and Canada were the three main soybean suppliers to Vietnam in the first eight months of 2024, with a total market share of 97.3%. Compared to the same period in 2023, the value of Vietnam's soybean imports from these three markets all decreased by 1.6%, 22.5% and 3.1%, respectively.

Thus, among the three largest soybean suppliers of Vietnam, there is no Cambodian market.

Source: https://congthuong.vn/nhap-khau-dau-tuong-tu-campuchia-tang-gan-8-lan-356436.html