The price of corn is unprecedentedly high

According to information from traders in the animal feed industry, in the last few days, the price of imported corn on sale has continuously increased and surpassed 10,000 VND/kg.

On March 16, the price of corn imported from South America on sale at Vung Tau port reached 10,300-10,500 VND/kg. This is the highest price recorded for imported corn so far.

The price of imported corn is at a record high, firstly because the price of corn on the world market is constantly increasing due to concerns about supply, the conflict between Russia and Ukraine, high sea freight rates around the world...

Information from the General Department of Customs shows that in the first two months of this year, the price of imported corn to Vietnam averaged at 320.8 USD/ton, up by 41.8% over the same period in 2021.

Besides, the decrease in the amount of corn imported to Vietnam also affected the price. According to the General Department of Customs, in the first two months of the year, the amount of imported corn was nearly 1.6 million tons, down by 6.8% over the same period in 2021.

Agromonitor forecasts that in the first half of this year, it is very likely that total imported corn will only reach about 4 million tons, down by 30% over the same period last year.

Due to high prices of imported corn from South America, many feed mills are looking for domestic sources of corn as well as corn imported from Myanmar, India and Pakistan... The price of Son La corn has also increased as a result.