Maize flour and cereals market in Vietnam

Earlier Report Observations

Between 2018 and 2020, the Vietnamese maize flour and cereals market expanded steadily, with volume rising from 1 403 thousand tons to 1 550 thousand tons and market value increasing from 1 034 million USD to 1 305 million USD.

The market contracted sharply in 2021, with volume dropping by 13% to 1 348 thousand tons and value falling to 1 138 million USD. In 2022, volume declined further to 1 300 thousand tons, but market value stabilized at 1 146 million USD as maize flour prices rose due to stronger demand for animal feed both domestically and internationally, coupled with higher global corn prices and reduced worldwide supply caused by adverse weather. Additionally, the Ministry of Agriculture and Rural Development temporarily suspended imports of corn distillers' grains from the United States over pest concerns. By 2023, the market recovered to 1 363 thousand tons in volume and 1 323 million USD in value.

Production maize flour and cereals in Vietnam

In kind, 2017-2020, K t

Globally, Vietnam ranked as the 25th largest producer of maize flour and cereals from 2017 to 2020.

Top producers of maize flour and cereals, 2017-2020

World map of production of maize flour and cereals, 2017-2020

Vietnam's production of maize flour and cereals grew for the third year in a row. In 2020, the country produced 1 559 thousand tonnes, showing a slight increase of 2.0% compared to 2019. Over the period from 2017 to 2020, production rose by 23%, which translates to an average annual growth rate of 7.2%.

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

In value, 2017-2020, M $ US

Vietnam's production value of maize flour and cereals continued its upward trend for the third consecutive year. In 2020, the output was valued at 1 312 million US dollars, marking a 10.4% increase from the previous year. From 2017 to 2020, production value grew by 39.9%, with an average annual rate of 11.8%.

Annual dynamics of production in Vietnam in value, 2017-2020, M $ US

Exports maize flour and cereals from Vietnam

Exports in kind, t

Vietnam's exports of maize flour and cereals increased for the third year in a row. In 2020, the export volume reached 13 962 tonnes, representing a significant jump of 27.6% compared to 2019. Between 2017 and 2020, exports surged by 119.4%, averaging an annual growth rate of 29.9%.

Annual dynamics of product's exports from Vietnam in kind, 2017-2020, t

From 2017 to 2020, the main buyers of Vietnam's maize flour and cereals by volume were the Philippines, accounting for 31.5% of exports, the United States with 24.2%, and Australia at 17.4%. Together, these three countries made up 73.1% of total export volumes.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Vietnam in kind, 2017-2020

Exports in value, K $ US

Vietnam's maize flour and cereals exports in value terms grew for the third consecutive year. In 2020, export value hit 11 757 thousand US dollars, showing a sharp increase of 38.0% from the previous year. Over the 2017-2020 period, exports rose by 149.5%, with a compound annual growth rate of 35.6%.

Annual dynamics of product's exports from Vietnam in value, 2017-2020, K $ US

Between 2017 and 2020, the top destinations for Vietnam's maize flour and cereals exports by value were the Philippines, with 32.1% of total exports, the United States at 24.9%, and Australia contributing 17.8%. Collectively, these three markets represented 74.7% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Vietnam in value, 2017-2020

Imports maize flour and cereals to Vietnam

Imports in kind, t

After two years of growth, Vietnam's imports of maize flour and cereals declined in 2020. Import volume stood at 5 901 tonnes, down by 3.1% from 2019. Over the 2017-2020 period, imports increased by 70.5%, with an average annual rate of 19.5%. The peak volume was recorded in 2019 at 6 091 tonnes, which also saw the largest annual increase of 48.1%.

Annual dynamics of product's imports to Vietnam in kind, 2017-2020, t

From 2017 to 2020, the primary sources for Vietnam's maize flour and cereals imports by volume were Thailand, which supplied 52.1% of imports, India at 24.2%, and Cambodia with 8.4%. These three countries together accounted for 84.7% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Vietnam in kind, 2017-2020

Imports in value, K $ US

Vietnam's imports of maize flour and cereals in value terms increased for the third consecutive year. In 2020, import value amounted to 4 805 thousand US dollars, up by 14.9% year-over-year. Between 2017 and 2020, imports grew by 85.6%, with a compound annual growth rate of 22.9%.

Annual dynamics of product's imports to Vietnam in value, 2017-2020, K $ US

During 2017-2020, three key markets—Thailand, India, and Cambodia—collectively represented 84.8% of the total import value for maize flour and cereals into Vietnam.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Vietnam in value, 2017-2020