Vietnam spent more than 2.6 billion USD importing corn, wheat, and soybeans

According to the Ministry of Agriculture and Environment, in the first 4 months of this year, Vietnam imported nearly 4 million tons of wheat, worth more than 1 billion USD, an increase of 66% in volume and 60% in value compared to the same period last year.

Corn was also imported in large volumes, reaching 4.4 million tons, worth more than 1.1 billion USD, an increase of 49% in volume and 43% in value. Meanwhile, soybean imports reached 1.1 million tons, worth 542 million USD, up 61% and 70% respectively.

Although imports increased sharply, prices of many cereals on the world market were still lower than the same period last year. The average import price of wheat in the first 4 months of the year reached about 255.4 USD per ton, down 3.7%, while corn decreased 3.6%, to 248.8 USD per ton. Soybeans alone increased by 5.2%, to 475.9 USD per ton.

According to the latest report from the US Department of Agriculture (USDA), the global supply of corn and soybeans in the 2025-2026 crop year remains high thanks to large output from Brazil and the US. This helps grain prices remain low, creating conditions for Vietnamese businesses to increase imports and reserve raw materials.

Brazil and Argentina are currently the two largest corn suppliers to Vietnam, accounting for nearly 80% of the market share. With soybeans, the US and Brazil account for nearly 90% of import value. Meanwhile, Australia, Brazil and Canada are the main wheat supply markets.

According to import businesses, the demand for raw materials for the animal feed and aquaculture industry is currently nearly 30 million tons per year. In particular, corn and wheat are the main energy sources, while soybeans are important protein-rich ingredients in bran production.

In addition, demand from the food processing industry such as instant noodles, confectionery, cooking oil and soy milk also increased rapidly, causing the import volume of these products to continue to increase.

While demand is growing, domestic supply is limited. The area planted with corn and soybeans continues to shrink as farmers switch to crops with higher economic value. Wheat alone is almost impossible to produce commercially in Vietnam due to unsuitable climatic conditions.

According to the Vietnam Animal Feed Association, imported raw materials currently account for a large proportion of the cost of animal feed production. Wheat is almost completely dependent on imports, while domestic corn and soybeans can only meet part of processing needs.

High dependence on imported raw materials makes the livestock industry vulnerable to fluctuations in agricultural product prices or global logistics costs. Since the end of February, the escalating Middle East conflict has also made many businesses worry that commodity prices and shipping costs may increase sharply again. Therefore, many units have stepped up imports to reserve raw materials for the last months of the year.

Analysts believe that in the short term, it will be difficult for Vietnam to reduce its dependence on imported raw materials due to limitations in land fund, productivity and farming efficiency. This means that the domestic livestock industry will continue to be greatly affected by fluctuations in the global agricultural market.