Vietnam - Wheat - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWheat Price in Vietnam - 2021
Contents:
- Wheat Price in Vietnam (CIF) - 2021
- Wheat Price in Vietnam (FOB) - 2022
- Wheat Imports in Vietnam
- Wheat Exports in Vietnam
Wheat Price in Vietnam (CIF) - 2021
The average wheat import price stood at $339 per ton in December 2021, surging by 2.3% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.9%. The growth pace was the most rapid in November 2021 an increase of 9.2% against the previous month. Over the period under review, average import prices attained the maximum in December 2021.
Average prices varied somewhat amongst the major supplying countries. In December 2021, the highest price was recorded for prices from Australia ($372 per ton) and the United States ($362 per ton), while the price for Bulgaria ($281 per ton) and Romania ($288 per ton) were amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Australia (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Wheat Price in Vietnam (FOB) - 2022
In 2022, the average wheat export price amounted to $242 per ton, reducing by -9.5% against the previous year. In general, the export price recorded a mild reduction. The growth pace was the most rapid in 2021 an increase of 22%. The export price peaked at $317 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Malaysia ($254 per ton) and Cambodia ($251 per ton), while the average price for exports to Cyprus ($176 per ton) and the Philippines ($191 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+0.7%), while the prices for the other major destinations experienced a decline.
Wheat Imports in Vietnam
In 2022, after three years of growth, there was significant decline in overseas purchases of wheat, when their volume decreased by -16.5% to 3.9M tons. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +12.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.5% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 49% against the previous year. As a result, imports attained the peak of 4.7M tons, and then contracted notably in the following year.
In value terms, wheat imports dropped sharply to $1.1B in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 71% against the previous year. As a result, imports attained the peak of $1.4B, and then reduced markedly in the following year.
| Import of Wheat in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 199 | 205 | 1,003 | 678 | 50.5% |
| Russia | 178 | 180 | 21.0 | 95.6 | -18.7% |
| Brazil | 19.2 | 56.5 | 57.7 | 78.3 | 59.8% |
| United States | 56.3 | 143 | 68.0 | 73.1 | 9.1% |
| Argentina | 43.3 | 61.3 | 61.2 | 52.6 | 6.7% |
| Bulgaria | 4.7 | 36.4 | 74.9 | 47.7 | 116.5% |
| Romania | 16.1 | 39.7 | 67.5 | 43.0 | 38.7% |
| Canada | 83.1 | 70.7 | 11.4 | 5.5 | -59.5% |
| Others | 33.8 | 16.9 | 22.9 | 24.8 | -9.8% |
| Total | 633 | 809 | 1,387 | 1,098 | 20.2% |
Top Suppliers of Wheat to Vietnam in 2022:
- Australia (2268.9K tons)
- Russia (456.3K tons)
- Brazil (283.7K tons)
- United States (211.6K tons)
- Bulgaria (189.2K tons)
- Argentina (180.7K tons)
- Romania (175.7K tons)
- Canada (16.2K tons)
Wheat Exports in Vietnam
In 2022, the amount of wheat exported from Vietnam amounted to 52K tons, growing by 5.1% against the previous year's figure. The total export volume increased at an average annual rate of +4.1% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 18%. As a result, the exports reached the peak of 54K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, wheat exports contracted modestly to $12M in 2022. The total export value increased at an average annual rate of +10.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year.
| Export of Wheat in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 7.0 | 9.2 | 10.1 | 10.5 | 14.5% |
| Philippines | 0.9 | 1.1 | 1.0 | 0.8 | -3.9% |
| Cyprus | 0.1 | 0.4 | 0.5 | 0.4 | 58.7% |
| Thailand | 0.2 | 0.4 | 0.3 | 0.3 | 14.5% |
| Lao People's Democratic Republic | 0.1 | N/A | 0.3 | 0.2 | 26.0% |
| Malaysia | 0.9 | 0.8 | 0.5 | 0.2 | -39.4% |
| Others | N/A | N/A | 0.6 | N/A | 0% |
| Total | 9.2 | 11.9 | 13.1 | 12.5 | 10.8% |
Top Export Markets for Wheat from Vietnam in 2022:
- Cambodia (41.6K tons)
- Philippines (4.4K tons)
- Cyprus (2.3K tons)
- Thailand (1.4K tons)
- Lao People's Democratic Republic (1.0K tons)
- Malaysia (0.9K tons)
This report provides an in-depth analysis of the wheat market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 15 - Wheat
Country coverage:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In 2022, wheat price growth is forecast to slow down with sufficient global production and falling demand for feed grains in the U.S. and the EU. Global wheat output is set to remain at the 2021’s level of approx. 777M tons.
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The average annual wheat price in the U.S. is forecast to drop by 2% y-o-y to $250 per ton in 2022, falling on reduced domestic consumption coupled with stable supply worldwide. The market balance will be buoyed by production gains in Argentina and the EU that will offset decreasing output in Brazil and Paraguay.
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This year, harvests in the EU, the U.S., the UK, Argentina, Morocco and Ukraine are expected to increase, leading to a growth in wheat production. Even though global stockpiles of grains will remain high, there are boosted expectations for inflation due to forecasts of record demand and increased prices for other cereal grains. The rising global population and bioethanol production are key factors leading to this growth in demand for wheat. Another driving factor is the emerging trend in the EU to use more wheat in animal feed rather than barley.
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