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Where does Vietnam get its soybean meal? Import sources 2024

In 2024, Vietnam imported $2.2 billion of soybean meal (5.6 million tonnes), 6.7% of the world total. Argentina sold 73% of the total, followed by Brazil (15%) and the United States (8%). Vietnam was the world’s 2nd-largest importer of soybean meal.

Summary

Value
$2.2billion
Tonnes
5.6million tonnes
Share of world total
6.7%
World rank
2nd
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 13 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Argentina1.6Tonnes: 4,177,986USD per tonne: $38372.6%Sea
Brazil0.33Tonnes: 800,408USD per tonne: $41715.2%Sea
United States0.17Tonnes: 389,125USD per tonne: $4327.6%Sea
China0.08Tonnes: 145,771USD per tonne: $5313.5%Sea
Malaysia0.01Tonnes: 17,080USD per tonne: $5310.41%Sea
India0.01Tonnes: 12,647USD per tonne: $5300.3%Sea
Paraguay0.01Tonnes: 15,365USD per tonne: $4030.28%Sea
Thailand< 0.01Tonnes: 545USD per tonne: $5490.01%Sea
Taiwan< 0.01Tonnes: 439USD per tonne: $3930.01%Sea
Denmark< 0.01Tonnes: 159USD per tonne: $3500%Sea
South Korea< 0.01Tonnes: 24USD per tonne: $1,1940%Sea
Germany< 0.01Tonnes: 0USD per tonne: $21,4600%Sea
Japan< 0.01Tonnes: 2USD per tonne: $1,3190%Sea

Trend

Who it buys from

Argentina has been its main source since 1998

Value in USD billions. The five largest sources in 2024.

  • Argentina 1.6
  • Brazil 0.33
  • United States 0.17
  • China 0.08
  • Malaysia 0.01

Source: CEPII BACI

Show the numbers
Partner19952024
Argentina< 0.011.6
Brazil00.33
United States< 0.010.17
China0.010.08
Malaysia00.01

Sources and methodology

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Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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