Vietnam: Groundnuts Market 2024

Groundnuts Market Size in Vietnam

The Vietnamese groundnuts market fell slightly to $X in 2022, with a decrease of X% against the previous year. In general, consumption recorded a slight decrease. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Groundnuts Production in Vietnam

In value terms, groundnuts production declined slightly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced decline. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

In 2022, the average yield of ground-nut (in-shell) in Vietnam fell slightly to X tons per ha, which is down by X% on 2021 figures. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the average groundnuts yield hit record highs at X tons per ha in 2021, and then fell slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ground-nut (in-shell) production in Vietnam stood at X ha, remaining stable against 2021 figures. In general, the harvested area, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X%. The groundnuts harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Groundnuts Exports

Exports from Vietnam

In 2022, shipments abroad of ground-nut (in-shell) decreased by X% to X tons, falling for the second consecutive year after five years of growth. In general, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, groundnuts exports shrank markedly to $X in 2022. Overall, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for groundnuts exports from Vietnam, accounting for a X% share of total exports. Moreover, groundnuts exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and China (X% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for ground-nut (in-shell) exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced a decline.

Groundnuts Imports

Imports into Vietnam

In 2022, imports of ground-nut (in-shell) into Vietnam skyrocketed to X tons, growing by X% against the previous year's figure. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, groundnuts imports soared to $X in 2022. Overall, imports enjoyed a strong increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Cambodia (X tons) constituted the largest supplier of groundnuts to Vietnam, accounting for a X% share of total imports. Moreover, groundnuts imports from Cambodia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Cambodia stood at X%.

In value terms, Cambodia ($X) constituted the largest supplier of ground-nut (in-shell) to Vietnam, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Cambodia totaled X%.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, approximately equating the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Cambodia ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :