Price for Cereals; Grain Sorghum, Seed in Vietnam - 2021
Contents:
- Price for Cereals; Grain Sorghum, Seed in Vietnam (CIF) - 2022
- Imports of Cereals; Grain Sorghum, Seed in Vietnam
Price for Cereals; Grain Sorghum, Seed in Vietnam (CIF) - 2022
The average cereals; grain sorghum, seed import price stood at $1,427 per ton in 2022, falling by -10.2% against the previous year. Overall, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 72% against the previous year. Over the period under review, average import prices reached the peak figure at $3,504 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($2,702 per ton), while the price for Australia totaled $1,331 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).
Imports of Cereals; Grain Sorghum, Seed in Vietnam
In 2022, purchases abroad of cereals; grain sorghum, seeds decreased by -12.3% to 128 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 292%.
In value terms, cereals; grain sorghum, seed imports dropped notably to $183K in 2022. In general, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 284%.
| Import of Cereals; Grain Sorghum, Seed in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 23.1 | 123 | 223 | 159 | 90.2% |
| United States | 11.7 | 10.3 | 9.3 | 24.3 | 27.6% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 34.8 | 134 | 232 | 183 | 73.9% |
Top Suppliers of Cereals; Grain Sorghum, Seed to Vietnam in 2022:
- Australia (119.2 tons)
- United States (9.0 tons)
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In 2021, global sorghum production will grow by 5%, boosted by growing supplies to China. Sorghum imports to the country are expected to rise by 28% compared to the previous year, driven by the increasing demand for animal feed. Prices will continue to rise in line with other cereals, following accelerated food inflation. The advantage of sorghum as a more drought-tolerant crop will allow this product to compete seriously with corn and will further stimulate market expansion.
