Vietnam competes with China, Thailand in hunting for a treasure of Laos: Nearly 900 million USD imports, our country enters top 10 ‘shark’ nations of the world.”

Alongside China and Thailand, Vietnam has become a significant consumer, accounting for up to 70% of Laos’ corn production. Corn is a strategic agricultural product in Laos, commanding high economic value and being sought after for import by many countries. Corn, especially sweet corn, is a major agricultural commodity in Laos, second only to rice, notably in Xayaboury province in northern Laos. Farmers in Xayaboury currently sell 70% of their corn production to China, Thailand, and Vietnam, with the remainder supplying the domestic market.

The provincial government of Xayaboury has encouraged farmers to produce 300,000 tons of sweet corn for export in recent years, although this quantity has declined. Previously, sweet corn has significantly contributed to farmers’ incomes and played a role in the economic development of both the local area and the entire country. According to data from the US Department of Agriculture (USDA), Laos produced 510,000 tons of corn in the 2022-2023 crop year. Over the period from 2018 to 2022, average corn production in Laos reached 597,000 tons.

According to preliminary statistics from the General Department of Customs, Vietnam imported various types of corn amounting to 661,615 tons in April, valued at over USD 167 million, marking a 24% decrease in volume and a 22% decrease in value compared to the previous month. Cumulatively for the first four months of the year, Vietnam imported over 3.44 million tons of corn valued at more than USD 871 million, reflecting a 22.5% increase in volume but an 8.4% decrease in value compared to the same period last year.

The import prices have seen a sharp decline compared to Q4/2023, reaching USD 253 per ton, corresponding to a 25% decrease.

In terms of market dynamics, Brazil remains Vietnam’s largest corn supplier in the first four months of the year with 1.49 million tons, equivalent to USD 381 million, marking a 9.8% increase in volume but a 15% decrease in value. The average import price was USD 256 per ton, a 23% drop compared to the same period in 2023.

Argentina is the second largest supplier with 1.3 million tons, totaling USD 316 million, showing a significant increase of 90% in volume and 37% in value compared to the same period last year. The average import price recorded a 28% decrease from the same period, reaching USD 243 per ton.

Significantly, Laos, Vietnam’s neighbor, is enhancing its corn exports to Vietnam in the first four months of the year, with the most substantial price reduction among all markets – a 28% decrease. Imports for the four months reached 73,996 tons valued at over USD 18.5 million, up 23% in volume but down 12% in value. The average price was USD 250 per ton, compared to USD 328 per ton in 2023.

In 2023, Vietnam imported 104,970 tons of corn from Laos worth over USD 34 million, showing a robust increase of 35% in volume and 19% in value compared to the previous year. This indicates that the volume of imports in the first four months of this year has nearly matched the total for all of 2023 combined.

Vietnam is one of the two countries experiencing the fastest growth in corn imports in Southeast Asia and has been the largest corn importer in the region since the 2018/19 crop year. Since 2012, Vietnam has risen from being the 19th largest importer of corn globally to the 5th position.

Looking ahead, global corn production for the 2023/24 crop year is forecasted to reach 1,213.5 million tons, a 5.4% increase compared to the 2022/23 crop year.

Where’d you buy Corn ?

Yomex is specialized in the wholesale supply of corn to restaurants, other juice shops, supermarkets, grocery stores and importers. Delivery on site, quality assurance.

Yomex supplies wholesale corn fruit in big quantities as customer requirement, at best price, good quality. Corn on Yomex is always available 24 hours a day when the customer has ordered it right away.

Are you looking for a reputable place that exports corn? 

Come to Yomex now to import quality fresh corn from Vietnam! Yomex currently sells quality fresh corn at competitive prices in Vietnam. Products at Yomex are committed to being absolutely safe for health.With many years of experience in the field of producing and trading clean vegetables and regional specialties. Corn sold at Yomex are always of guaranteed quality and origin so you can use them with peace of mind. Contact us now to receive the best advice and support.
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