Vietnam: Maize Market 2024

Maize Market Size in Vietnam

The Vietnamese maize market expanded sharply to $X in 2022, growing by X% against the previous year. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value 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, consumption increased by X% against 2017 indices. Maize consumption peaked in 2022 and is expected to retain growth in years to come.

Maize Production in Vietnam

In value terms, maize production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

In 2022, the average maize yield in Vietnam shrank modestly to X tons per ha, remaining relatively unchanged against the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the yield increased by X% against the previous year. The maize yield peaked at X tons per ha in 2021, and then declined 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.

In 2022, the total area harvested in terms of maize production in Vietnam rose modestly to X ha, growing by X% compared with 2021 figures. In general, the harvested area, however, showed a noticeable curtailment. The maize harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area remained at a lower figure.

Maize Exports

Exports from Vietnam

In 2022, overseas shipments of maize decreased by X% to X tons, falling for the second year in a row after five years of growth. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, maize exports fell markedly to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for maize exports from Vietnam, accounting for a X% share of total exports. Moreover, maize exports to the Philippines exceeded the volume sent to the second major destination, Cambodia (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and the United States (X% per year).

In value terms, the Philippines ($X) remains the key foreign market for maize exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and the United States (X% per year).

Export Prices by Country

The average maize export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, faced a abrupt decrease. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to the United States ($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 the Philippines (X%), while the prices for the other major destinations experienced a decline.

Maize Imports

Imports into Vietnam

In 2022, supplies from abroad of maize decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, maize imports surged to $X in 2022. In general, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of maize to Vietnam, accounting for a X% share of total imports. Moreover, maize imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. The third position in this ranking was held by India (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Argentina totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and India (X% per year).

In value terms, Argentina ($X) constituted the largest supplier of maize to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by India, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Argentina stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and India (X% per year).

Import Prices by Country

The average maize import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, import price indicated a slight increase 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, maize import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Argentina ($X per ton) and South Africa ($X per ton), while the price for Myanmar ($X per ton) and India ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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