At a glance
Vietnam continues its moderate destocking trend since Tet, with visible stocks of in all Vietnam at the end of Mar 2022 falling to 677,564 tons (-13,606 tons MoM, +6,984 tons YoY). Multinationals still hold the biggest chunk of all stocks inside Vietnam, while locals keep much less than a year ago.
Our proprietary analytical model indicates that the hedged proportion of total stocks is as high as 503,894 tons (+19,734 tons MoM, +68,694 tons YoY), accounting for 74% of the total stocks (+4.32% MoM, +9.47% YoY).
