Vietnam: Sorghum Market 2024

Sorghum Market Size in Vietnam

The Vietnamese sorghum market dropped sharply to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption recorded a dramatic slump. Sorghum consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sorghum Production in Vietnam

In value terms, sorghum production stood at $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume decreased by X% against the previous year. Sorghum production peaked in 2022 and is likely to see steady growth in the immediate term.

In 2022, the average sorghum yield in Vietnam amounted to less than X kg per ha, approximately mirroring 2021. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the sorghum harvested area in Vietnam stood at less than X ha, therefore, remained relatively stable against the previous year's figure. In general, the harvested area continues to indicate a relatively flat trend pattern.

Sorghum Exports

Exports from Vietnam

In 2021, shipments abroad of sorghum increased by X% to X kg for the first time since 2018, thus ending a two-year declining trend. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sorghum exports surged to $X in 2021. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X kg) was the main destination for sorghum exports from Vietnam, accounting for a X% share of total exports. Moreover, sorghum exports to Germany exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), more than tenfold. The third position in this ranking was held by Mozambique (X kg), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Mozambique (X% per year).

In value terms, the largest markets for sorghum exported from Vietnam were Cote d'Ivoire ($X), Germany ($X) and Mozambique ($X), together comprising X% of total exports.

Among the main countries of destination, Mozambique, 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

In 2021, the average sorghum export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sorghum Imports

Imports into Vietnam

Sorghum imports into Vietnam fell dramatically to X tons in 2022, waning by X% on 2021. In general, imports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sorghum imports fell sharply to $X in 2022. Over the period under review, imports faced a significant curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest sorghum supplier to Vietnam, with a X% share of total imports. Moreover, sorghum imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold.

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

In value terms, Australia ($X), China ($X) and India ($X) constituted the largest sorghum suppliers to Vietnam, with a combined X% share of total imports.

Among the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average sorghum import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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