In the first quarter of 2024, which market imported the most wheat from Vietnam?

According to statistics from the General Department of Customs, in March 2024, the whole country imported 468,999 tons of wheat, equivalent to 131.4 million USD, with an average price of 280.2 USD/ton, a decrease of 6.9% in volume and 1.9% in value compared to February 2024, but the price increased by 5.3%. Compared to March 2023, there was also a decrease of 20.9% in volume, 39% in value, and 22.8% in price.

Overall, in the first three months of 2024, the country's wheat imports reached nearly 1.51 million tons, equivalent to over $421.39 million, an increase of 24.2% in volume but a decrease of 5.2% in value compared to the first three months of 2023, with an average price of $279.7/ton, a decrease of 23.7%.

Quý I/2024, Việt Nam nhập khẩu lúa mì nhiều nhất từ thị trường nào?

In the first three months of 2024, the whole country imported nearly 1.51 million tons of wheat, equivalent to over 421.39 million USD.

In March 2024, wheat imports from the main market Brazil decreased by 12.2% in volume and 12.9% in value compared to February 2024, and the price decreased by 0.8%, reaching 236,026 tons, equivalent to $59.05 million, at a price of $250.2/ton; compared to March 2023, there was a sharp increase of 384% in volume, an increase of 240.5% in value, but a decrease of 29.7% in price.

For the first three months of 2024, wheat imports from Brazil accounted for 42.7% of the total volume and 38.6% of the total value of wheat imports nationwide, reaching over 642,957 tons, equivalent to 162.52 million USD, with an average price of 252.8 USD/ton. This represents a 145.8% increase in volume, a 69.6% increase in value, but a 31% decrease in price compared to the first three months of 2023.

Following the main market of Brazil, the Australian market accounts for 19% of the total volume and 21.8% of the total value, reaching 285,551 tons, equivalent to 91.37 million USD, with an average price of 320 USD/ton, a decrease of 64.9% in volume, 68.6% in value, and 10.4% in price compared to the first three months of 2023.

Next, the Ukrainian market reached 147,094 tons, equivalent to $38.58 million, at a price of $262.3/ton, accounting for 9.8% of the total volume and 9.2% of the total value of wheat imports nationwide.

Wheat imports from the US market reached 106,997 tons, equivalent to $35.24 million, an increase of 48% in volume and 12.2% in value compared to the first three months of 2023.

The International Grains Council (IGC), comprising major wheat-producing and importing countries, forecasts global wheat production for the 2023-2024 season at 784 million tonnes, down 2.4% from the previous season.

Global wheat consumption in 2023/2024 is projected to increase compared to the December 2023 forecast, largely due to increased use as animal feed in the EU, which is projected to rise by 2% compared to 2022/23.

Source