November 22, 2024 | 13:19 GMT +7
Hotline: 0913.378.918
November 22, 2024 | 13:19 GMT +7
Hotline: 0913.378.918
The price of imported corn increased sharply in the first months of the year. Photo: TL.
Imported corn increased sharply both in volume and value in the first five months of this year due to high prices charged by many key suppliers.
According to the General Department of Customs, in the first five months of 2021, Vietnam's corn imports reached 4.37 million tons, equivalent to US$1.14 billion and up 33.4 per cent in volume and 65.6 per cent in turnover.
Meanwhile, the average price of imported corn to Vietnam was $260 per ton, up 24 per cent over the same period in 2020.
Vietnam imports corn from three main markets - Argentina, Brazil and India, among which, c is the biggest corn supplier to Vietnam, with 1.61 million tons, equivalent to $450.77 million and priced at $280/ton, down 10.3 per cent in volume but up 21.3 per cent in turnover and increased 35.2 per cent in price over the same period in 2020, accounting for 36.8 per cent of the total corn import of the country and 39.6 per cent of the total turnover.
The second largest market was Brazil with 1.36 million tons, equivalent to $300.31 million. The import price reached $220.6/ton, up 122.5 per cent in volume, up 146.2 per cent in turnover and increased 10.7 per cent in price over the same period last year, accounting for over 31 per cent of the total volume and accounted for 26.4 per cent of the total corn import turnover of the country.
Meanwhile, corn imported from India increased very strongly by 84,000 per cent in volume and 65,336 per cent in turnover, reaching 648,126 tons, equivalent to $17492 million, accounting for 15 per cent of the total volume and total turnover.
(VAN) In its monthly grain market report, released on Nov. 21, the IGC revised total grains ending stocks lower by 8 million tonnes, to 576 million, a 3.5% decrease from the previous year.
(VAN) Vietnam's tea industry, one of the top five tea-exporting countries in the world, is facing a concerning reality as the average export price of Vietnamese tea is only 67% of the global tea price.
(VAN) Analysts at EastFruit have observed that fruits and vegetables are contributing to inflation in Russia, despite the government's efforts to combat it through fiscal policies and an increase in the key interest rate to 21%.
(VAN) Expanding high-quality tea varieties has become a strategic goal for Vietnam's tea industry to increase export value and escape the 'cheap price trap' when exporting tea to global markets.
(VAN) After implementing the OCOP program, several products from Bac Kan Province have established a strong presence in the market and are moving towards export.
(VAN) On November 20, a Vietnamese company exported nearly 10 tons of bird's nest to China's market through the Bac Luan II border gate in Quang Ninh.
(VAN) Many businesses believe that Halal market is huge and has a lot of potential; even in Vietnam, there are Muslims, and improving product quality is important.
