According to preliminary statistics from the General Department of Customs, in February 2024, the country imported 503,681 tons of wheat, equivalent to 133.97 million USD, with an average price of 266 USD/ton, down in volume, turnover and price compared to January 2024, with corresponding decreases of 5.9%, 14.3% and 8.9%. Compared to February 2023, it increased by 31.1% in volume, decreased by 6.2% in turnover and decreased by 28.5% in price.

In the first two months of 2024, the country's total imported wheat volume reached nearly 1.04 million tons, equivalent to nearly 290.33 million USD, an increase of 67.4% in volume and 26.6% in value compared to the first two months of 2023, with an average price of 279.4 USD/ton, down 24.4%.

In the first two months of 2024, the country's imported wheat volume reached nearly 1.04 million tons. Photo: Reuters.

In February 2024, wheat imports from the main market Brazil increased sharply by 92.5% in volume, 87.9% in value but decreased by 2.4% in price compared to January 2024, reaching 268,730 tons, equivalent to 67.76 million USD, priced at 252.2 USD/ton; compared to February 2023, it also increased by 161.8% in volume, 74.4% in value but decreased by 33.4% in price.

In the two months, wheat imports from the Brazilian market, accounting for 39.3% of the total volume and 35.8% of the total wheat import turnover of the country, reached 408,351 tons, equivalent to 103.82 million USD, with an average price of 254.2 USD/ton, a sharp increase of 91.8% in volume, an increase of 32.3% in turnover but a decrease of 31% in price compared to the first two months of 2023.

Next is the Australian market, accounting for 22.3% of the total volume and 25.6% of the total turnover, reaching 231,698 tons, equivalent to 74.22 million USD, with an average price of 320.4 USD/ton, down 31.3% in volume, down 39.1% in turnover and down 11.4% in price compared to the first 2 months of 2023.

The Ukrainian market ranked third with 144,689 tons, equivalent to 37.94 million USD, priced at 262.2 USD/ton, accounting for 13.9% of the total volume and 13% of the total wheat import turnover of the country, while in the first 2 months of 2023, no wheat was imported from this market.