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Tag: import

  • Opportunity for Vietnam as Indonesia to import 1.6M tons more rice

    Opportunity for Vietnam as Indonesia to import 1.6M tons more rice

    Indonesia plans to increase rice imports by 1.6 million tons this year, giving Vietnamese exporters a big opportunity, the Vietnam Trade Office in that country said.

    The import licenses for the additional quota would be issued soon by its Ministry of Trade once legal procedures are completed, it said.
    It will increase the country’s rice imports to 3.6 million tons this year.

    Vietnamese exporters could capitalize on this opportunity, but would have to compete on price with many other countries, according to the head of a government agency in Dong Thap Province, one of the largest rice producers in the Mekong Delta.

    According to the official, Vietnam has advantages in terms of delivery times and quality, but its prices are high.

    “If businesses offer competitive prices, the chances of winning bids will be better.”

    The trade office advised businesses to push exports in the early months of the year since Indonesia’s main rice harvest has been delayed by two to three months due to a water shortage caused by the El Nino phenomenon.

    Indonesia imported 441,930 tons of rice in January, an 82% increase year-on-year, including 32,340 tons from Vietnam.

    Thailand accounted for 129,780 tons.

    Last month seven Vietnamese companies won a bid to export 300,000 tons of rice to Indonesia.

    Last year Indonesia was the second largest importer of Vietnamese rice, buying over 1.1 million tons or nearly nine times the volume it had imported in 2022.

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  • Vietnam spends over $480M on meat imports in first 5 months

    Vietnam spends over $480M on meat imports in first 5 months

    Vietnam imported more than 239,000 tonnes of meat and meat products worth $480 million in the first five months of this year.

    The number climbed by roughly 1.6% in terms of quantity but declined by 9.1% in terms of value, according to the General Department of Customs of Vietnam.

    In May, Vietnam imported 57,620 tonnes of meat, worth $108.8 million, up 9.5% in volume but down 10.2% in value year-on-year. This marked the fourth monthly growth in import volume of meat and meat products.

    During the period, the country imported from more than 36 markets, with the five largest suppliers being the U.S., India, Russia, Brazil, and Poland.

    In particular, meat imports from Russia have steadily soared after decreasing in 2022.

    The main types of imported meat and include poultry and offal, fresh chilled or frozen pork, and fresh chilled or frozen beef.

    Imports of chilled or frozen poultry, offal of pigs, buffaloes, and cows were on the uptrend, while pork and beef imports decreased year-on-year.

    In the first five months of 2023, Vietnam imported 29,610 tonnes of fresh chilled or frozen pork, worth $73.62 million, down 19.9% in volume and 5.7% in value.

  • Vietnam spends over $2B on animal feed, material imports in 5 months

    Vietnam spends over $2B on animal feed, material imports in 5 months

    Vietnam spent US$2.04 billion to import animal feed and raw materials for the production of this kind of commodity in the first five months of this year, according to the Ministry of Agriculture and Rural Development (MARD).

    The figure marks a year-on-year decrease of 2%.

    Animal feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market shares, followed by India (18.3%) and the U.S. (15.2%).

    Compared to the same period last year, the imports from the three countries increased by 3.9%, 130%, and 28.3%, respectively.

    MARD recommends that to reduce reliance on imported animal feed, farmers in localities should make use of available domestic raw materials, produce animal feed by themselves to reduce cost, and find sources of raw materials for animal feed production.

    Ministries and agencies were asked to tighten control over the import of meat and by-products, support importers to reduce the costs of products, as well as create favorable conditions for the development of material zones for animal feed production.

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  • Importers propose halving car registration fees

    Importers propose halving car registration fees

    All 12 members of the Vehicles Importers Vietnam Association (VIVA) have asked the Government to reduce the registration fee on imported cars by 50% to spur demand.

    VIVA proposed in the context of a sharp drop in sales and gloomy market forecasts.

    According to the association, car importers need help to cope with high inventories due to the sudden decrease in demand.

    In the first month of this year, the number of cars imported to Vietnam tripled over the same period last year to more than 12,800 vehicles. The number of imported cars also tripled in the last three months of last year.

    Earlier, the Prime Minister ordered the Ministry of Finance and the Ministry of Industry and Trade to consider lowering registration fees for domestically assembled cars.

    The Vietnam Automobile Manufacturers Association (VAMA) said tightening credit and rising interest rates have diminished market liquidity, and automobile companies are struggling to cope with high inventories.

    According to VAMA, its members reported a decline in sales four months in a row starting last October. Only 17,314 vehicles were sold in January, down 51% from December.

    During the Covid pandemic, Vietnam halved registration fees on domestically assembled vehicles, not on imported ones, twice, first in mid-2020 and then again in late-2021. Each reduction period lasted six months.

    In the first half of 2020, over 102,900 domestically assembled vehicles were registered. The figure then doubled in the second half of the year.

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  • Fruit, vegetable exports rise 17.8%

    Fruit, vegetable exports rise 17.8%

    Vietnam’s fruit and vegetable exports in the first two months of this year increased by 17.8% year-on-year to US$592 million.

    China accounted for 57.5% of the exports, according to the Ministry of Agriculture and Rural Development’s department of agricultural products processing and market development.

    Since early February when it reopened after Covid, China has been importing large volumes of Vietnamese agricultural products like durian, jackfruit, watermelon, and sweet potato.

    Exports to Laos have tripled.

    The U.S. and Europe have also imported large volumes of Vietnamese fruits and vegetables.

    A Tien Giang Province-based company told VnExpress that its exports of durian and pomelo to the U.S. and China have been increasing steadily this year. Freight rates have decreased to pre-Covid levels, creating favorable conditions for exporters.

    Surveys in the Mekong Delta show that the prices of durian, dragon fruit, jackfruit, and sweet potato have all doubled or tripled from 12 months ago, with the durian price surging to a record high of VND190,000 ($8) per kilogram at the farm gate.

    Last year exports were worth $3.34 billion, down 5.9% from 2021, according to the agriculture ministry.

    Vietnam imported fruits and vegetables for $289 million in the first two months of this year, a 12% increase, the department said.

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  • Indonesia surpasses Thailand as Vietnam’s largest car exporter

    Indonesia surpasses Thailand as Vietnam’s largest car exporter

    Indonesia surpassed Thailand as Vietnam’s largest car exporter in 2022, with 72,671 cars exported.

    According to statistics released by Vietnam Customs, Vietnam imported 173,467 cars in 2022, an 8.5% increase from 2021.

    Indonesia, Thailand and China were the biggest car exporters to Vietnam, but Indonesia surpassed Thailand to be the country that exported the most cars to Vietnam, with 72,671 cars exported in total, a 64.2% increase from 2021, and worth $10.5 billion.

    Thailand exported 72,032 cars worth $1.42 billion to Vietnam in 2022, a 10.9% decrease in number from 2021. The number of cars imported from Indonesia and Thailand amounted to 144,703 cars, accounting for 83% of all imported cars. China stood in third place, exporting 17,240 cars to Vietnam in 2022.

    For the first time in decades, the number of cars sold in Vietnam in 2022 reached 508,547 cars, according to statistics from the Vietnam Automobile Manufacturers’ Association and TC Motor.

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  • Auto imports zoom to new high

    Auto imports zoom to new high

    Auto imports rose by 8.4% last year to a record 173,467 units, which cost US$3.84 billion according to Vietnam Customs.

    The previous highest number was over 160,000 in 2021.

    Indonesia and Thailand were the biggest sources of the imports last year, accounting for 41.9% and 41.5%.

    China was third with 10%.

    The government has issued a decree encouraging auto imports from ASEAN countries to comply with the ASEAN Trade in Goods Agreement.

    From 2022 to 2027 vehicles produced within ASEAN with over 40% locally sourced components are exempt from import tax.

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  • Canada imports 50% more Vietnamese garments, seafood

    Canada imports 50% more Vietnamese garments, seafood

    Vietnamese garment and seafood exports to Canada have surged 50% year-on-year, totaling values of $1.1 billion and $334 million, respectively.

    As the two categories saw the most significant increases in exports to Canada of the last three years, other categories such as wood, chemicals, metal, cashew nuts, handbags, and machines also recorded growth of between 3% and 30%, according to statistics from the Vietnam Customs Office.

    Total exports from Vietnam to Canada have risen 28.7% year-on-year to nearly $5.5 billion over the same period.

    Canada is Vietnam’s second-largest export market in the Americas, behind the U.S.

    And Vietnam is Canada biggest export market in ASEAN.

    But Canada has been increasing its trade safeguards against Vietnam recently, and Vietnamese authorities have proposed that the country impose a fairer trade policy with Vietnamese goods in line with regulations of the World Trade Organization, said Vo Tan Thanh, deputy chairman of the Vietnam Chamber of Commerce and Industry (VCCI).

    He said that Canada should be more open to importing competitively priced Vietnamese agricultural products such as vegetables and coffee.

    At the 29th APEC Summit in Thailand, Vietnam President Nguyen Xuan Phuc and Canadian Prime Minister Justin Trudeau agreed to expand and deepen bilateral cooperation in all fields, especially trade and investment.

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  • Vietnam auto production ranks 4th in Southeast Asia

    Vietnam auto production ranks 4th in Southeast Asia

    Vietnam ranks fourth in Southeast Asia in auto production in the first 10 months at 362,000 units, up 16.4% year-on-year, according to the General Statistics Office.

    Thailand leads the region with nearly 1.6 million units made in the period, followed by Indonesia, 1.2 million, and Malaysia, 567,700, according to the ASEAN Automotive Federation.

    Many auto factories have recently been established in Vietnam, including Toyota, Honda, Ford, Kia, and Hyundai. Vietnam company VinFast has also been expanding with a focus on the global electric vehicle market.

    Some brands such as Skoda (Czech) and Chery (China) are planning to assemble cars in Vietnam through domestic partners in the next 1-2 years.

    Vietnam also imports cars from the regional leaders Thailand and Indonesia.

    Vietnam also ranked first in year-on-year auto sales growth in the first 10 months at 52.2%, followed by Malaysia at 50.7%.

    The country saw 322,963 units sold, against the leader Indonesia’s 851,413.

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  • Pork imports nearly triple

    Pork imports nearly triple

    Frozen pork imports nearly tripled in the first 10 months of this year to 332,000 tons, according to the General Department of Vietnam Customs.

    Also imported were 350,000 pigs on the hoof from Thailand, a 50 percent increase year on year.

    Together they cost US$617 million. Its five biggest pork suppliers were Russia, Germany, Brazil, the Netherlands, and Canada.

    Vietnam also imported 50,000 tons of beef worth $220 million, half of it from Australia, the department added.

    Over 800 enterprises from 19 markets have been allowed to export pork to Vietnam, according to the Ministry of Agriculture and Rural Development.

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  • Car imports surge

    Car imports surge

    The number of imported cars in Vietnam rose 61 percent to 129,733 units in the first 10 months this year.

    Passenger vehicles saw a rise of 50 percent to 90,029 units, according to Vietnam Customs.

    In October, the three major import markets were Thailand with 8,320 units, followed by Indonesia, 3,925, and China, 1,733.

    Over 11,700 cars with nine seats or less were imported to Vietnam last month, doubling from September.

    A media representative of a Japanese auto brand said the rise came as customs activities resumed after months of social distancing.

    Companies were also importing more vehicles to prepare for the end-of-year shopping season.

    Vietnam also imported $4.07 billion worth of car parts and equipment in the first 10 months, up 33.5 percent year-on-year.

    Sales of imported, completely-built units rose 24 percent year-on-year to 97,028 in the first 10 months, according to Vietnam Automobile Manufacturers Association (VAMA).

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  • Imports dominate popular categories on e-commerce platforms

    Imports dominate popular categories on e-commerce platforms

    Only 17 percent of the most popular goods on e-commerce platforms since last year have been Vietnamese, a market research firm said.

    Malaysian market research firm iPrice Group said in a report that 83 percent of the 1,200 most sought-after items were imported.

    The rates for Vietnamese products ranged between 25 percent for Sendo and 13 percent for Shopee Vietnam.

    The overall rate dropped to 14 percent in the first half of this year.

    Sendo and Tiki are Vietnamese-owned businesses.

    “Vietnamese enterprises have not paid due attention to e-commerce yet,” Sendo chairman Nguyen Dac Viet Dung said.

    “After two years of working with the Ministry of Industry and Trade to bring Vietnamese goods to e-commerce platforms, we have attracted many traditional retailers”.

    Vietnamese goods dominated the groceries category, with demand surging because of Covid-19 lockdowns.

    Agricultural specialties are becoming increasingly on the two local platforms.

    Vietnam’s e-commerce market has seen an average annual growth rate of 25-30 percent in the last five years, according to Vietnam E-commerce Association (VECOM).

    Should the growth rate be maintained, Vietnam would rank third in e-commerce market size in Southeast Asia by 2025, behind Indonesia and Thailand.

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  • Vietnam stops live pig imports from Thailand

    Vietnam stops live pig imports from Thailand

    Vietnam has decided to stop importing live pigs from Thailand starting June 30 after 980 of them were found infected with African swine fever.

    The Ministry of Agriculture and Rural Development took the decision to stop imports to try and prevent the disease from being transmitted to domestic herds.

    Enterprises with signed contracts for pigs to be transported to Vietnam before June 30 can still implement them. The ministry has asked the Department of Animal Health to place imported pigs under strict quarantine.

    The department had detected the disease among 980 pigs during the quarantine process on May 19. The pigs were imported by livestock firm Senat Limited Liability Company and worth VND6.2 billion ($269,500). The infected pigs were destroyed May 21.

    Vietnam allowed the import of live pigs for the first time starting mid-June 2020 to contain rising pork prices as a result of the African swine fever.

    The country imported over 503,000 live pigs from Thailand last year, according to the Ministry of Agriculture and Rural Development.

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  • Indonesia slaps anti-dumping duties on cold steel sheets imported from Vietnam

    Indonesia slaps anti-dumping duties on cold steel sheets imported from Vietnam

    The Indonesian Anti-dumping Committee has concluded that Vietnam is dumping cold steel sheets following a 16-month-long investigation.

    Indonesia will apply anti-dumping duties of 3.01-49.2 percent on imports from Vietnam. But some major exporters are set to get away with low duties, according to the Trade Remedies Authority of Vietnam.

    Hoa Sen Group will pay 5.34 percent and Ton Dong A Corporation will pay 3.01 percent.

    The Trade Remedies Authority of Vietnam said it has been informed by the committee that Vietnamese and Chinese cold steel sheets are being imported into Indonesia at a price lower than in those countries, hurting domestic companies.

    In August 2019, the Indonesian committee announced it was opening the anti-dumping investigation. In July last year, it made a preliminary conclusion that the item under investigation was indeed being dumped.

    Immediately TRAV sent a letter objecting to some unreasonable aspects of the preliminary conclusion. KADI decided to extend the investigation for six months.

    Its final conclusion was announced on February 17.

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  • January auto imports surge 85 percent in Vietnam

    January auto imports surge 85 percent in Vietnam

    Auto imports in January rose to 8,343 completely built units worth $212.5 million, up 84.7 percent and 76.2 percent year-on-year, respectively.

    Most of car imports are from Thailand and Indonesia, at an average price range of VND350 million ($15,000) to VND 1.2 billion.

    Experts have said that the scale of manufacturing, tax exemptions and affordable auto models are elements that have allowed these nations to acquire large market shares in Vietnam.

    A Vietnam Customs report notes that auto imports had fallen 24.5 percent to 105,200 units last year as the Covid-19 pandemic slashed demand and forced dealers to stop working for weeks in April.

    Industry insiders say it is still early to forecast this year’s performance by Vietnam’s auto industry because the Covid-19 situation has become increasingly unpredictable.