Vietnam imported approximately 937,273 tons of soybeans in the first five months of 2025, with a total import value of over USD 428.98 million and an average price of USD 457.7 per ton, according to preliminary data from Vietnam General Department of Customs. Compared to the same period in 2024, import volume fell by 5.2%, value declined by 17.8%, and the average price dropped by 13.3%.
In May 2025 alone, soybean imports reached 233,899 tons, valued at USD 110.91 million, with an average price of USD 474.2 per ton. Compared to April 2025, volume surged by 84.5%, value increased by 97.2%, and price rose slightly by 6.9%. However, compared to May 2024, while volume increased by 3.5%, the value decreased by 3%, and the price dropped by 6.3%.
Key import markets
The chart illustrates a comparison of Vietnam’s top three soybean import markets in the first five months of 2025.
US leads but at lower prices
The US remained Vietnam’s largest soybean supplier, with 457,126 tons worth USD 205.97 million, at an average price of USD 450.6 per ton. Compared to the same period in 2024, import volume rose by 37.5%, value by 12.7%, but the average price plunged by 18%.
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In May 2025 alone, Vietnam imported 42,992 tons from the US, worth USD 19.08 million, at USD 443.7 per ton, marking a sharp decline compared to April.
Brazil sees sharp decline in both volume and price
Brazil, the second-largest supplier, accounted for 38.8% of Vietnam’s total import volume, with 363,296 tons valued at USD 167.64 million and an average price of USD 461.4 per ton. Compared to the same period last year, volume dropped by 36.5%, value by 42.3%, and price by 9.1%.
Canada posts breakthrough growth
Canada supplied 85,249 tons of soybeans, worth USD 40.99 million, at an average price of USD 480.8 per ton. This represented a significant year-on-year increase of 78.6% in volume and 40% in value, despite a 21.6% drop in price compared to the same period in 2024.
