Despite being an agricultural country, Vietnam’s soybean cultivation area is quite low compared to domestic demand. Therefore, imports remain the primary solution to ensure the supply of raw materials for domestic manufacturing.
According to statistics from the Customs Department, imports of soybeans in the first 10 months of 2025 were 2.16 million tons, valued at over 1 billion USD. This figure represents a 19% increase in volume and a 7% increase in value compared to the first 10 months of 2024. In October 2025 alone, soybean imports increased sharply by 47% in volume and 46% in value compared to September 2025.
Vietnam’s soybean imports in 10 months reached 2.16 million tons.
Brazil was the largest supplier of soybeans to Vietnam in the first 10 months of 2025, accounting for 55% of the total volume and 56% of the total value of soybean imports into the country. Imports from Brazil reached 1.19 million tons, equivalent to nearly 561.28 million USD, with an average price of 469.7 USD/ton.
Notably, the second-largest market, the US, is increasing soybean exports to Vietnam. In October 2025, imports from the US reached 773,000 tons, equivalent to 350 million USD, accounting for 35% of the total volume and 35% of the total value. It shows a 36% increase in volume and a 16% increase in value. The average import price was 453 USD/ton, a decrease of 14% compared to the same period in 2024.
The United States Soybean Export Council (USSEC) considers Vietnam to be among the “most dynamic markets for U.S. soybeans.” Currently, Vietnam is the third-largest buyer of soybeans in Southeast Asia. The organization forecasts that Vietnam’s demand will continue to increase due to the strong development of the food and animal feed industries.
Vietnam is also the world’s sixth-largest pork producer, while the fisheries sector ranks fourth and contributes about 4-5% to GDP. The demand for soybeans in industrial feed production is very high, especially as consumers increasingly prefer protein-rich products with clear plant origins.
Despite being an agricultural country, Vietnam’s soybean cultivation area is quite low compared to domestic demand. Therefore, imports remain the primary solution to ensure the supply of raw materials for domestic manufacturing.
Furthermore, the preferential import duty rate on soybean meal from the US to Vietnam has been reduced from 1% and 2% to 0%.