Vietnam spends US$1 billion on soybean imports in 11 months

Society – Economy - Ngày đăng : 18:01, 16/12/2024

Vietnamese soybean imports during the initial 11 months of this year reached nearly 1.98 million tonnes, worth US$1.02 billion, up 19.6% in volume but down 3% in value compared to the same period last year, according to the General Department of Customs.

vietnam spends us 1 billion on soybean imports in 11 months picture 1

November alone witnessed the country import 163,416 tonnes, equivalent to US$81.17 million, down over 26% in both volume and value month on month. However, these figures translated into rises of 268.7% in volume and 175.3% in value compared to last year.

Brazil was the largest soybean supplier to Vietnam during the 11-month span, selling 1.07 million tonnes, equivalent to nearly US$535.76 million, up 20% in volume and 0.93% in value.

It was followed by the United States that supplied 713,735 tonnes, equivalent to US$370.03 million; Canadia with 116,073 tonnes valued at US$68.88 million, and Cambodia with 15,980 tonnes valued at US$11.715 million.

In Vietnam, soybeans are grown across 26 provinces and cities, mostly in the north.

The country is currently the third largest importer of soybean meals and the ninth largest importer of soybeans in the world. Over the past 10 years, it has consumed an average of nearly two million tonnes of soybeans each year.

VOV