According to statistics from General Department of Customs, import of corn in the first 3 months of 2024 reached over 2.78 million tonnes, worth nearly 702.74 million USD, average price of 252.7 USD/tonne, an increase of 27,1% in quantity but down 4.8% in turnover and 25.1% in price compared to the first 3 months of 2023.
Of which, in March 2024 alone, it reached 871,741 tonnes, equivalent to 215.88 million USD, average price 247.7 USD/tonne, down 6.5% in volume and down 9.1% in turnover compared to February 2024, prices will also decrease by 2.8%; Compared to March 2023, it increased by 13.6% in volume but decreased by 17.2% in turnover and decreased by 27.1% in price.
Brazil is the largest market supplying corn to Vietnam in the first 3 months of 2024, accounting for 53.4% of the total volume and 54.3% of the country's total corn import turnover, reaching 1.49 million tonnes, equivalent to nearly 381.27 million USD, priced at 256.6 USD/tonne, a sharp increase of 22.5% in volume, but a decrease of 5.8% in turnover and a decrease of 23% in price compared to the first 3 months of 2023.
The second largest market is Argentina, in the first 3 months of 2024 reaching 728,759 tonnes, equivalent to 178.79 million USD, priced at 245.3 USD/tonne, accounting for over 26.2% of total volume and 25.4% of total turnover. The country's total corn import turnover increased by 79.5% in volume, increased by 31.6% in turnover but the price decreased by 26.7% compared to the first 3 months of 2023.
Laos market in the first 3 months of 2024 reached 66,033 tonnes, equivalent to 16.55 million USD, priced at 250.6 USD/tonne, accounting for 2.4% of total corn import volume and turnover of the country, hitting an increase of 11% in volume but a decrease of 20.3% in turnover and price decrease 28.3% over the same period last year.
Corn is an important commodity in livestock and poultry industry. Corn usually accounts for about 25-40% of diet of livestock and poultry depending on stage of development and physiological state of the animal's body. This commodity is also closely linked to livestock farming, with countries that produce more corn, more livestock is developed.
According to Statista, Vietnam is one of the 30 largest corn growing countries in the world but is also in the group of countries that import the most corn in the world, behind China, Europe, Mexico, Japan, Korea, United Kingdom and Egypt.

L. Giang
Source: Vitic/ congthuong.vn