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According to preliminary Vietnam Customs data, Vietnam’s soybean imports reached 2.36 million tons, worth nearly USD 1.1 billion, during the first 11 months of 2025.
The average import price stood at USD 465.5/ton. Compared with the same period in 2024, import volume increased by 19.2% and import value rose by 8%, while average price declined by 9.4%.
These results reflect sustained strong demand for raw materials used in animal feed production and domestic processing, despite a downward adjustment trend in global soybean prices.
Monthly import trends
In November 2025 alone, soybean imports reached 200,928 tons, valued at USD 95.09 million, with an average price of USD 473.3/ton.
Compared with October 2025, import volume fell 2.9%, import value decreased by 3.5%, and average price edged down by 0.6%.
However, compared with November 2024, import volume surged 23% and import value rose 17.2%, while the average price declined 4.7%.
This trend indicates rising import volumes to meet domestic demand, even though price levels have yet to recover.
Key suppliers
Brazil remained Vietnam’s largest soybean supplier, accounting for 50.6% of import volume and 51.1% of import value in the first 11 months of 2025. It supplied 1.2 million tons worth USD 561.28 million, at an average price of USD 469.7/ton. Volume rose 11.2% year-on-year, while price fell 5.8%.
The US ranked second, supplying 952,854 tons worth USD 432.69 million, at an average price of USD 454.1 per ton. Volume rose 33.5%, while price dropped 12.4%.
Canada ranked third, with 156,584 tons worth USD 75.68 million, at an average price of USD 483.3 per ton. Volume rose 34.9%, while price fell 18.6%.
Overall, Vietnam’s soybean import structure in 2025 continued to show a high level of dependence on major supplying markets, particularly Brazil and the US, which together accounted for more than 90% of total import volume.
This concentration reflects both the competitiveness of supply from these origins and Vietnam’s strong demand for large-volume, stable sources of feed-grade soybeans.
Outlook and market dynamics
Soybean imports are expected to remain high as the livestock and feed industries continue to recover and expand.
However, import dynamics will be shaped by global price movements, exchange rate fluctuations, and developments in major producing countries.
Enterprises may increasingly focus on optimizing sourcing strategies and diversifying supply to manage costs and ensure stable raw material availability.