Vietnam: Cereal Market 2024

Cereal Market Size in Vietnam

In 2022, the Vietnamese cereal market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Cereal Production in Vietnam

In value terms, cereal production expanded markedly to $X in 2022 estimated in export price. In general, production recorded a perceptible slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Cereal production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

In 2022, the average yield of cereals in Vietnam declined modestly to X tons per ha, approximately mirroring 2021. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the yield increased by X%. The cereal yield peaked at X tons per ha in 2021, and then contracted slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cereal harvested area in Vietnam was estimated at X ha in 2022, remaining constant against the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2014 to 2022, the growth of the cereal harvested area remained at a lower figure.

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Cereal Exports

Exports from Vietnam

In 2022, shipments abroad of cereals decreased by X% to X tons, falling for the second consecutive year after four years of growth. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cereal exports shrank markedly to $X in 2022. Over the period under review, exports, however, posted a resilient increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The Philippines (X tons), Cambodia (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of cereal exports from Vietnam, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cereal exported from Vietnam were the Philippines ($X), Cambodia ($X) and Lao People's Democratic Republic ($X), together comprising X% of total exports.

In terms of the main countries of destination, Cambodia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cereal export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price, however, continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced a decline.

Cereal Imports

Imports into Vietnam

After two years of growth, supplies from abroad of cereals decreased by X% to X tons in 2022. Overall, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, cereal imports expanded notably to $X in 2022. Over the period under review, imports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Argentina (X tons), Australia (X tons) and Brazil (X tons) were the main suppliers of cereal imports to Vietnam, with a combined X% share of total imports. India, South Africa, Cambodia, Myanmar and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cereal suppliers to Vietnam were Argentina ($X), Australia ($X) and Brazil ($X), together comprising X% of total imports. Cambodia, India, South Africa, Myanmar and the United States lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, South Africa, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cereal import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereal import price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Cambodia ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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