vietnam corn market report q1/2018 - market...
TRANSCRIPT
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VIETNAM CORN MARKET REPORT Q1/2018
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Content
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Abbreviations
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Executive summary
Maize is one of the five major food crops of the
world.
Asia is the world's largest consumer of corn
with total corn consumption volume in
2016/2017
In Vietnam, maize is the second largest food
crop after rice. Compared to other countries,
maize yields are relatively low.
Canned sweet corn and corn starch are
currently two main corn products produced
domestically.
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Executive summary
Corn production in the country does not meet
the demand of domestic consumption leading
to the situation that Vietnam still imports a
large amount of corn grains.
In 2016 and 2017, the grain stockpiles in the
whole country have been reduced and
maintained at a stable level thanks to demand
that does not spike as in previous years.
Domestic corn prices in recent years always
follow the fluctuation of world prices.
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Content
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1. Business environment
1.1 Macroeconomic situation
1.2 Legal framework
1. Business environment
1.1. Macroeconomic situation
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Source: VIRAC, GSO
Source: VIRAC, GSO
GDP in 2017 was estimated to increase by 6.81% compared to 2016,
in which increasing by 5.15% in Q1, 6.28% in Q2, 6.46% in Q3 and
6.65% in Q4.
GDP growth, 2011 - 2017
GDP structure at current prices, 2017
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1. Business environment
1.1. Macroeconomic situation
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Source: VIRAC, GSO
Gross output of agriculture, forestry and fishery, Q4/2015 – Q4/2017
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1. Business environment
1.1. Macroeconomic situation
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Source: VIRAC, MARD
Source: VIRAC, MARD
USD million
In 2017, cattle feed and animal feed ingredients continue to be the most
imported commodities for the domestic agricultural sector,
Import structure of main agricultural products
Maize import and import structure of major agricultural products, 2011-2017e
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1. Business environment
1.1. Macroeconomic situation
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Source: VIRAC, SBV
VND/USD exchange rate in 2017 remained quite stable around 22,400.
Source: VIRAC, Nielsen
Consumer Confidence Index, 2014 – Q3/2017
VND/USD exchange rate, 2016-2017
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Content
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1. Business environment
1.1 Macroeconomic situation
1.2 Legal framework
1. Business environment
1.2. Legal framework
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On 4/16/2012, the Ministry of Agriculture and Rural Development issued Decision No. 824/QD-BNN-TT approving the project of developing cultivation till
2020 with a vision to 2030.
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1. Business environment
1.2. Legal framework
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On July 31, 2014, the Ministry of Agriculture and Rural Development issued Decision No. 3367/QD-BNN-TT approving the plan on restructuring the rice crop in
the period 2014-2020.
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1. Business environment
1.2. Legal framework
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On 5/27/2016, the Prime Minister issued Decision 915 / QD-TTg on support policy for conversion from rice cultivation to maize in the midland, mountainous
area, north, north central, delta Mekong River, South Central Coast and Central Highlands.
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1. Business environment
1.2. Legal framework
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National standards
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1. Business environment
1.2. Legal framework
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National standards
10 TCN 577:2004: STANDARDS FOR SWEET CORN MATERIALS USED IN PROCESSING
Indicator Requirement
Quality criteria
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1. Business environment
1.2. Legal framework
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Weight criteria
Food hygiene and safety criteria
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2. World corn market
2.1 Value chain of production
2.2 Production
2.3 Consumption
2. World corn market
2.1 Value chain of production
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Global corn processing chain
Source: VIRAC, Hiệp hội Tinh chế ngô
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Content
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2. World corn market
2.1 Value chain of production
2.2 Production
2.3 Consumption
2. World corn market
2.2 Production
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N Maize is one of the five major food crops of the world.
Currently, five Chinese, American, Brazilian, Indian and Mexican
populations now have the largest maize area in the world.
Corn harvesting area by season, 2011/2012 - 2016/2017
Top 5 countries with the largest maize crop area, 2011/2012 – 2016/2017
Million ha
Source: VIRAC, USDA
Million ha
Source: VIRAC, USDA
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2. World corn market
2.2 Production
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World corn production has been fluctuating for many years.
Source: VIRAC, USDA
Ton/ha
Thousand tons
World corn production by crop, 2011/2012 - 2016/2017
Source: VIRAC, USDA
World maize yield by crop, 2010/2011 - 2016/2017
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2. World corn market
2.2 Production
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Source: VIRAC, USDA
Rank CountryVolume
(Thousand tons)Share
Top the world's largest producer of corn, 2016/2017
Source: VIRAC, USDA
Although South America's maize production is just one-third of North
America, half of Asia, South America also has a number of countries in the
world's top corn producing nations, such as Brazil and Argentina.
World corn production structure by region, 2016/2017
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2. World corn market
2.1 Value chain of production
2.2 Production
2.3 Consumption
2. World corn market
2.3 Consumption
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Source: VIRAC, USDA
World corn consumption by crop, 2011/2012 - 2016/2017
Thousand tons
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2. World corn market
2.3 Consumption
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Rank CountryVolume
(Thousand tons)Share
Source: VIRAC, USDA
World’s top corn consuming countries, 2016/2017
Source: VIRAC, USDA
Asia is the world's largest consumer of corn with total corn sales in 2016/2017 World corn consumption structure by region, 2016/2017
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3. Vietnam corn market
3.1 Definition and classification
3.2 Value chain of production
3.3 Production
3.4 Consumption
3.5 Import Export
3.6 Price movement
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3. Vietnam corn market
3.1 Definition and classification
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Classification of maize in Vietnam
Corn for grains
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3. Vietnam corn market
3.1 Definition and classification
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Corn for food processing
Corn for feed processing Content is intentionally removed for demo purpose
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3. Vietnam corn market
3.3 Production
Corn growing area
Source: VIRAC
Distribution of maize growing areas throughout the country
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3. Vietnam corn market
3.1 Definition and classification
3.2 Value chain of production
3.3 Production
3.4 Consumption
3.5 Import Export
3.6 Price movement
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3. Vietnam corn market
3.2 Value chain of production
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Value chain of production
Activities
Factors
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3. Vietnam corn market
3.1 Definition and classification
3.2 Value chain of production
3.3 Production
3.4 Consumption
3.5 Import Export
3.6 Price movement
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3. Vietnam corn market
3.3 Production
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Thousand ha
Source: VIRAC, MARD
Source: VIRAC, MARD
Area of corn harvest, 2011-2017e
Structure of maize harvest area by area, 2017e
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3. Vietnam corn market
3.3 Production
Quintal/ha
Quintal/ha
Source: VIRAC, MARD
Source: VIRAC, MARD
Although the area of corn harvest in the country in 2017 decreased
compared to 2016, but the yield of corn continues to achieve stable
growth.
Corn yields by region, 2013-2017e
Corn yields, 2011-2017e
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3. Vietnam corn market
3.3 Production
Thousand tons
Source: VIRAC, MARD
Source: VIRAC, MARD
That area of cultivation decreases across the country has caused the
output of the harvest also from that decline.
Corn production structure by region, 2017e
Corn production, 2011-2017e
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3. Vietnam corn market
3.3 Production
Ton
Ton
Source: VIRAC, MARD
Source: VIRAC, MARD
Canned sweet corn and corn starch are currently two main corn
products produced domestically.
Corn starch production, 2010-2017
Canned sweet corn production, 2010-2017e
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3. Vietnam corn market
3.1 Definition and classification
3.2 Value chain of production
3.3 Production
3.4 Consumption
3.5 Import Export
3.6 Price movement
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3. Vietnam corn market
3.4 Consumption
Thousand tons
Source: VIRAC, USDA
Corn grain consumption, 2011/2012-2017/2018e
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Thousand tons
Source: VIRAC, USDA
Source: VIRAC, USDA
3. Vietnam corn market
3.4 Consumption
Corn grain consumption by intended use,
2011/2012-2017/2018e
Structure of corn grain consumption, 2017/2018e
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3. Vietnam corn market
3.4 Consumption
Ton
Ton VND million
VND million
Source: VIRAC, GSO
Source: VIRAC, GSO
Corn starch consumption, 2010-2017
Canned sweet corn consumption, 2010-2017
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3. Vietnam corn market
3.1 Definition and classification
3.2 Value chain of production
3.3 Production
3.4 Consumption
3.5 Import Export
3.6 Price movement
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3. Vietnam corn market
3.5 Import Export – Export
Thousand tons
Source: VIRAC, USDA
Corn grain exports, 2013-2017e
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3. Vietnam corn market
3.5 Import Export – Import
Thousand tons
Source: VIRAC, GDVC
Source: VIRAC, GDVC
Corn production in the country does not meet the demand of
domestic consumption leading to the situation that Vietnam still
imports a large amount of corn grains.
USD million
Corn grain import structure by country, 2017e
Corn grain imports, 2011-2017e
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3. Vietnam corn market
3.1 Definition and classification
3.2 Value chain of production
3.3 Production
3.4 Consumption
3.5 Import Export
3.6 Price movement
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3. Vietnam corn market
3.6 Price movement
Source: VIRAC, US Grain Council
Domestic corn prices and import prices, 7/2014-1/2017
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4. Industry planning
Content
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On December 28, 2016, the Ministry of Agriculture and Rural Development issued Decision No.5448/QD-BNN-TT approving "Master plan for national
corn production up to 2025 and orientation to 2030".
4. Industry planning
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5. Outlook
Content
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5. Outlook
Geographic Prospects:
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6 Enterprise analysis
6.1 Enterprise overview
6.2 Profitability
6.3 Solvency
6.4 Debt repayment capability
6.5 Performance efficiency
6.6 Profit ratio
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6. Enterprise analysis
6.1 Enterprise overview
No Enterprise Revenue in 2016
1 QUOC DUNG COMPANY LIMITTED
2 MASCOPEX JOINT STOCK COMPANY
3 CBOT VIETNAM JOINT STOCK COMPANY
4 T & T AGRICULTURAL CO., LTD
5 HOANG LUAN TRADING - SERVICE CO., LTD
6 KHAI ANH - BINH THUAN IMPORT AND EXPORT CO., LTD
7 DUONG VAN DUNG COMPANY LIMITTED
8 INTIMEX DAKNONG JOINT STOCK COMPANY
9 TAN DONG TIEN JOINT STOCK COMPANY
10 TAN TAI AGRICULTURAL FOODS CO., LTD
Top corn wholesale businesses having the largest turnover in 2016
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QUOC DUNG COMPANY LIMITTED
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Enterprise introduction
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MASCOPEX JOINT STOCK COMPANY
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Enterprise introduction
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CBOT VIETNAM JOINT STOCK COMPANY
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Enterprise introduction
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T & T AGRICULTURAL CO., LTD
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Enterprise introduction
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HOANG LUAN TRADING - SERVICE CO., LTD
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Enterprise introduction
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KHAI ANH - BINH THUAN IMPORT AND EXPORT CO., LTD
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Enterprise introduction
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Enterprise introduction
DUONG VAN DUNG COMPANY LIMITTED
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INTIMEX DAKNONG JOINT STOCK COMPANY
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Enterprise introduction
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TAN DONG TIEN JOINT STOCK COMPANY
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Enterprise introduction
YearVolume
(Ton)
Revenue
(USD)
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TAN TAI AGRICULTURAL FOODS CO., LTD
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Enterprise introduction
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6 Enterprise analysis
6.1 Enterprise overview
6.2 Profitability
6.3 Solvency
6.4 Debt repayment capability
6.5 Performance efficiency
6.6 Profit ratio
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Source: VIRAC
VND billion
6. Enterprise analysis
6.2 Profitability
Net revenue growth, 2015-2016
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VND billion
Source: VIRAC
6. Enterprise analysis
6.2 Profitability
Gross profit growth, 2016
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6 Enterprise analysis
6.1 Enterprise overview
6.2 Profitability
6.3 Solvency
6.4 Debt repayment capability
6.5 Performance efficiency
6.6 Profit ratio
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Source: VIRAC
6. Enterprise analysis
6.3 Solvency
Solvency, 2016
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Source: VIRAC
6. Enterprise analysis
6.3 Solvency
Roun
d
Account receivable turnover, 2016
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6 Enterprise analysis
6.1 Enterprise overview
6.2 Profitability
6.3 Solvency
6.4 Debt repayment capability
6.5 Performance efficiency
6.6 Profit ratio
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Source: VIRAC
6. Enterprise analysis
6.4 Debt repayment capability
TimeDebt service coverage, 2016
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6 Enterprise analysis
6.1 Enterprise overview
6.2 Profitability
6.3 Solvency
6.4 Debt repayment capability
6.5 Performance efficiency
6.6 Profit ratio
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Source: VIRAC
Source: VIRAC
6. Enterprise analysis
6.5 Performance efficiency
Round
Round
Total asset turnover, 2016
Fixed asset turnover, 2016
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Source: VIRAC
Source: VIRAC
6. Enterprise analysis
6.5 Performance efficiency
VND billion
VND billion
Administrative expenses, 2016
Selling expenses, 2016
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6 Enterprise analysis
6.1 Enterprise overview
6.2 Profitability
6.3 Solvency
6.4 Debt repayment capability
6.5 Performance efficiency
6.6 Profit ratio
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Source: VIRAC
6. Enterprise analysis
6.6 Profit ratio
Profit ratio, 2016
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REPORT DISCLAIMER
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REPORT DISCLAIMER
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