Market research

Castor seeds market in Vietnam, 2026

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The castor seeds market in Vietnam remained steady at 7 000 tons in both 2018 and 2019. During this phase, the edible oil industry underwent consolidation, with domestic company Kido acquiring major joint ventures such as Golden Hope Nhà Bè, strengthening its market position. Earlier, the government had imposed import tariffs to protect local edible oil producers, though these measures expired in mid-2017.

Production dropped to 6 000 tons in 2020 but rebounded to 8 000 tons in 2021. The recovery was linked to a national biofuel development project that encouraged castor plant cultivation in the Red River and Central Highlands regions for use in biofuel, pharmaceuticals, and biochemical production.

Output settled at 7 000 tons in 2022 and 2023. The biofuel initiative continued to support castor farming, while the edible oil sector saw further market entry, including foreign investment from Musim Mas, which built a large-scale oil processing plant, sustaining demand for raw materials like castor seeds.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Vietnam
  1. 5.1.1. Annual dynamics of production in Vietnam in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Vietnam in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, kg
    1. 6.1.2.1. Annual dynamics of product's imports to Vietnam in kind, 2018-2024, kg
    2. 6.1.2.2. Dynamics of product's imports in kind to Vietnam by countries, 2018-2024, kg
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Vietnam in value, 2018-2024, $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Vietnam by countries, 2018-2024, $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Vietnam, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Vietnam by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, kg
    1. 6.2.2.1. Annual dynamics of product's imports to Vietnam in kind, 2018-2024, kg
    2. 6.2.2.2. Dynamics of product's imports in kind to Vietnam by countries, 2018-2024, kg
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Vietnam in value, 2018-2024, $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Vietnam by countries, 2018-2024, $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Vietnam, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Vietnam by countries, 2018-2024, $ US/t
7. Trade balance
1. 7.1. Trade balance (Direct Data)
  1. 7.1.1. In kind, kg
  2. 7.1.2. In value, $ US
2. 7.2. Trade balance (Mirror Data)
  1. 7.2.1. In kind, kg
  2. 7.2.2. In value, $ US
8. Top buying and selling countries, 2018-2024
1. 8.1. Direct Data
  1. 8.1.1. Import in Value by Countries-buyers
  2. 8.1.2. Export in Value by Countries-suppliers
2. 8.2. Mirror Data
  1. 8.2.1. Import in Value by Countries-buyers
  2. 8.2.2. Export in Value by Countries-suppliers

Production castor seeds in Vietnam

In kind, 2017-2020, t

From 2017 to 2020, Vietnam was the world's 8th largest producer of castor seeds.

Top producers of castor seeds, 2017-2020

Source: SHEV.io

World map of production of castor seeds, 2017-2020

Source: SHEV.io

In 2020, Vietnam produced 6,000 tonnes of castor seeds, marking a 14.3% decrease compared to 2019. Over the 2017–2020 period, production fell by 14.3%, with a compound annual growth rate of 5.0%. The most significant increase occurred in 2018, at 0.0%.

Annual dynamics of production in Vietnam in kind, 2017-2020, t