| Wheat prices fall to one-year low Crude oil prices on track to return to old peak, wheat surges more than 5% |
According to preliminary statistics from the General Department of Customs, wheat imports to Vietnam in September 2023 reached 225,376 tons with a value of more than 69.1 million USD, down 37.5% in volume and 39.8% in value compared to August 2023. In the first 9 months of the year, imports of this item to Vietnam reached more than 3.3 million tons with a value of more than 1.1 billion USD, up 2.6% in volume but down 6.6% in value compared to the same period in 2022.
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| In the first 9 months of the year, wheat imports to Vietnam reached more than 3.3 million tons with a value of more than 1.1 billion USD. |
Australia, the US and Brazil are the three largest markets supplying wheat to Vietnam. Specifically, in the first 9 months of the year, wheat imports from Australia reached more than 2.43 million tons with a value of more than 833 million USD, up 1.45% in volume but down 9.5% in value compared to the same period in 2022. The average import price reached 343 USD/ton, down 10.6% in value compared to the same period in 2022, accounting for 71.8%.
The US ranked second with a market share of 8.9%. In the first 9 months of the year, wheat imports from the US reached 262,792 tons with a value of more than 103 million USD, up 32% in volume but down 9.08% in value compared to the same period in 2022. The average import price from the US reached 393 USD/ton, down 17.4% compared to the same period in 2022.
Notably, wheat imports from Austria are increasing sharply with high growth. In the first 9 months of the year, Vietnam imported 11,907 tons of wheat from Austria with a value of more than 4.1 million USD, a sharp increase of 4,820% in volume and 4,175% in value compared to the same period in 2022. The average import price reached 345 USD/ton, down 13.09% over the same period, however, the proportion from Austria only accounted for 0.3% of the total wheat import volume to Vietnam in the first 9 months of the year.
Also according to the General Department of Customs, in 2022, Vietnam imported more than 3.9 million tons of wheat worth more than 1.5 billion USD, down 12.6% in volume but up 14% in value compared to 2021. In 2022, the import price of wheat was expensive in the first months of the year, but from the end of 2022 until now, it has witnessed a sharp decrease.
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