November 5, 2024 | 13:38 GMT +7
Hotline: 0913.378.918
November 5, 2024 | 13:38 GMT +7
Hotline: 0913.378.918
Soybeans imports reached over USD 1 billion - a new record. Photo: TL.
According to the General Department of Customs, over 11 months of 2021, soybeans imports reached more than 1.81 billion tons, worth over USD 1.06 billion, an increase in all three aspects of volume - turnover - price compared to the same period last year, respectively 3.8%, 49%, and 43.7%.
The year 2021 becomes the first year that soybean import value surpassed the USD 1 billion record. Brazil and the USA are the two main supplying markets of soybeans for Vietnam.
For 11 months of 2021, soybeans imported from Brazil reached 899,083 tons, equal to USD 532.04 million in value, increasing 21.9% in value, 85.5% in turnover, accounting for over 49.6% of the total volume and 50.2% of the total turnover of soybeans imported of the country.
Soybean import from the US market over 11 months reached 792,446 tons, equal to USD 451.18 billion, a 3% drop in volume but a 33% increase in turnover. Imports to this market account for over 43% of Vietnam's total soybeans import volume and turnover.
Translated by Hoang Duy
(VAN) Chinese consumers demand significantly for agricultural products in general and fruits in particular; however, meeting the market requirements is challenging.
(VAN) As consumer demand shifts toward specialty and high-quality teas, innovation and 'premiumization' are key drivers for market expansion.
(VAN) The provinces of Central Vietnam are assisting Nhat Thanh Food Company in establishing a Halal certification process with the aim of exporting goat and sheep meat products to Muslim countries.
(VAN) Ca Mau's shrimp export revenue in 2023 reached over 1 billion USD, marking the fourth consecutive year the province has surpassed this milestone.
(VAN) Despite these factors, the FAS forecasts a 43% year-on-year decline in ending stocks for 2024-25 to 3 million tonnes.
(VAN) Ninh Thuan and Ben Tre established effective connections and trade with Halal markets by exploiting the agricultural suitability.
(VAN) However, in terms of value, Vietnam only ranks second, accounting for a proportion of 12.1%, much lower than the 39.6% of the largest tea supply market, Sri Lanka.
