According to data from the Center for Agricultural Digital Transformation and Statistics under the Ministry of Agriculture and Rural Development, Vietnam’s import value of agro-forestry-fishery products in November 2024 was estimated at 3.92 billion USD, up 20.5% compared to the same period last year. In the 11 months, the total import turnover of this group of products reached 40.28 billion USD, a 9.1% increase year on year (YoY), of which the import value of agricultural products hit 25.05 billion USD (up 10.7% YoY); that of livestock products reached 3.4 billion USD (up 6.3% YoY); and the aquatic products at 2.32 billion USD (down 2% YoY).

Vietnam's fruit and vegetable imports in 11 months of 2024 recorded a turnover of 2.1 billion USD, up 17.5% year on year

As for forestry products, Vietnam spent 2.54 billion USD on imports of this product group, a sharp increase by 24.2% YoY. Inputs for production reached 6.93 billion USD (up 4.7% YoY), while salt import value decreased by 18.4% YoY to 33.5 million USD.

In terms of trade partners, China, Brazil, and the US continued to be the three largest suppliers of agro-forestry-fishery products for Vietnam, with the market shares of 9.6%, 8.1%, and 7.4%, respectively, and with increased import value by 25.2%, 14%, and 4.8% YoY, respectively.

Regarding specific products, soybean imports in 11 months reached 1.9 million tonnes worth 988 million USD, up 15.8% in volume but down 5.7% in value. Wheat imports reached 5.1 million tonnes, worth 1.42 billion USD, up 3.8% in volume and 29.2% in value YoY. Meanwhile, corn recorded an import volume of 11.3 million tonnes with a value of 2.75 billion USD, up 35.6% in volume and 9% in value YoY.

Cashew nuts, one of the main commodities, saw an import volume of 2.4 million tonnes valued at 3.06 billion USD, down by 9.6% in volume but just 0.6% in value YoY. In contrast, rubber imports reached 1.7 million tonnes worth 2.63 billion USD, up 8% in volume and 31.6% in value.

Fertilizer products also witnessed a strong growth, reaching 4.9 million tonnes (up 32.5% YoY) with a value of 1.6 billion USD (up 26.6% YoY). Imported livestock products reached 3.4 billion USD (up 6.3% YoY), of which milk and dairy products accounted for 1.05 billion USD (down 1.3% YoY), while meat and edible by-products reached 1.55 billion USD (up 14.2% YoY).

The fruit and vegetable imports recorded a turnover of 2.1 billion USD, up 17.5% YoY, while the fishery products reached 2.32 billion USD (down 2% YoY). Imported wood and wood products reached 2.51 billion USD, up 26.2% YoY.

In addition, Vietnam spent 4.47 billion USD on importing animal feed and raw materials (down 2.6% YoY) and 856.5 million USD on pesticides and materials (up 12.4% YoY).

In terms of import prices, in 11 months of this year, cashew nuts were the only commodity that recorded an average price increase of 10% YoY, reaching 1,270 USD per tonne. In contrast, the average import prices of wheat, corn, and soybeans reached 275 USD/tonne, 242.5 USD/tonne, and 515.5 USD/tonne, down by 19.6%, 19.6%, and 18.6% YoY respectively. Fertilizer prices also decreased by 4.5% YoY to 328.2 USD/tonne.