According to preliminary statistics of the General Department of Customs, corn imports of all kinds in the first 9 months of 2024 reached over 8.08 million tons, worth over 1.98 billion USD, with an average price of 245.4 USD/ton, up 24.3% in volume, but down 2.3% in turnover and down 21.4% in price compared to the first 9 months of 2023.

Of which, September 2024 alone reached 1.15 million tons, equivalent to 268.43 million USD, average price 232.9 USD/ton, down 3.1% in volume, down 5.6% in turnover and down 2.6% in price compared to August 2024; compared to September 2023, it increased 0.05% in volume, but down 14.9% in turnover and down 15% in price.

Argentina is the largest corn supplier to Vietnam in the first 9 months of 2024. Photo: TL

Argentina is the largest market supplying corn to Vietnam in the first 9 months of 2024, accounting for 57% of the total volume and 56% of the total corn import turnover of the country, reaching nearly 4.61 million tons, equivalent to over 1.11 billion USD, priced at 240.9 USD/ton, up 89.4% in volume, up 48.3% in turnover but down 21.7% in price compared to the first 9 months of 2023.

The second largest market is Brazil, in the first 9 months of 2024 reaching over 2.35 million tons, equivalent to 584.73 million USD, price 248.7 USD/ton, accounting for over 29% of the total volume and total import turnover of corn of the whole country, up 2.8% in volume, but down 18.5% in turnover and price down 20.8% compared to the first 9 months of 2023.

Source: According to data from the General Department of Customs

In addition to Argentina and Brazil, Vietnam also imports corn from other markets such as Thailand, Laos and India.

Of which, the import volume to the Lao market in the first 9 months of 2024 reached 74,664 tons, equivalent to 18.66 million USD, priced at 250 USD/ton, accounting for nearly 1% of the total volume and total import turnover of corn in the country, up 22.4% in volume, but down 13% in turnover and down 29% in price compared to the same period last year.

Similarly, imports from Thailand reached 3,500 tons with a value of 6.89 million USD, down 30.5% and 31.93% respectively over the same period last year.

Notably, the amount of corn imported from India decreased sharply by 99.7% in volume and 98% in value compared to the same period last year, reaching only 2,574 tons with a value of 6.8 million USD.

The Ministry of Agriculture and Rural Development said that corn is an important commodity in the livestock and poultry farming industry in Vietnam. This is a commodity closely associated with livestock farming, so this grain accounts for nearly 40% of the diet of livestock and poultry, depending on the stage of development and physiological state of the animal.

Because the supply from the domestic farming industry only meets about 37% of the raw materials for animal feed production. Therefore, every year Vietnam still has to spend billions of USD to import this type of raw material.

To reduce dependence on imported corn, experts say that Vietnam needs to take specific measures to promote domestic corn production. First of all, it is necessary to invest in research and development of high-yield corn varieties that are resistant to diseases and suitable for the climatic conditions of each region. In addition, the application of scientific and technological advances in cultivation is also an important factor in improving corn productivity and quality.

At the same time, policies to support farmers in accessing capital, technology and markets also need to be focused on. The government needs to encourage farmers to return to corn cultivation through price support programs, training in farming techniques and expanding the domestic corn consumption market.