In the first 10 months of the year, fertilizer imports reached 2.77 million tons, worth over 1.3 billion USD.

China is still the leading market in supplying fertilizer to Vietnam

Statistics of the General Department of Customs show that, in recent months, fertilizer imports have recorded an increase. Specifically, in October 2022, fertilizer imports continued to increase for the third consecutive month, increasing both in volume, value and price compared to September 2022. The corresponding increase was 26.2%, 27.9% and 1.4%, reaching 321,967 tons, equivalent to 154.24 million USD, the average price was 479 USD/ton.

Fertilizer import data for the first 10 months of 2022 (Source: General Department of Customs)

This figure compared to October 2021, decreased by 14.3% in volume, but increased by 4.4% in turnover and increased by 21.8% in price.

In October, the largest fertilizer import still came from the Chinese market with an increase of 27.8% in volume, an increase of 27% in turnover, but a slight decrease of 0.6% in price compared to September 2022. reached 192,800 tons, equivalent to 84.09 million USD, priced at 436.2 USD/ton.

Compared to October 2021, fertilizer imports from this market also increased sharply by 35% in volume, 52.2% in turnover and 12.8% in price.

The second place is imported from the Russian market. In October, fertilizer imports from this market increased 51.5% in volume and 39.6% in turnover compared to September 2022, reaching 38,391 tons, equivalent to over 32.52 million USD. Compared to October 2021, an increase of 34.7% in volume, an increase of 147.9% in turnover.

Generally, in the first 10 months of 2022, the country's imported fertilizer amount reached over 2.77 million tons, worth over 1.3 billion USD, the average price reached 469.5 USD/ton, down 27.2% in volume. volume, but increased by 13.4% in turnover and 55.7% in price over the same period in 2021.

China is still the leading fertilizer supplier to Vietnam, accounting for 50.5% of the total volume and 45% of the country's total fertilizer import turnover, reaching 1.4 million tons, equivalent to 585 .33 million USD, the average price was 418 USD/ton, down 17.5% in volume, but increased by 19.5% in turnover and strongly increased by 44.8% in price over the same period in 2021.

Russia continued to rank second, accounting for 7.8% of the total volume and accounting for 12% of the total turnover, with 216,224 tons, equivalent to 155.46 million USD, the average price of 719 USD/ton, down 34.7% in value. volume, but increased 36.9% in turnover and increased sharply by 109.7 % in price compared to the first 10 months of 2021.

Russia ranks second (after China) in terms of fertilizer supply market to Vietnam in the first 10 months of 2022

The Southeast Asian market ranked third, reaching 233,207 tons, equivalent to 144.4 million USD, a sharp decrease of 45.7% in volume, a decrease of 4.5% in turnover over the same period, accounting for 8.4% of the total volume. and accounted for 11% of the total fertilizer import turnover of the country.

Fertilizers imported from the FTA RCEP market reached 2.06 million tons, equivalent to USD 842.78 million, down 17.7% in volume but up 17.9% in turnover over the same period, accounting for 74.3% in total volume and accounted for 64.8% of the total fertilizer import turnover of the country.

Fertilizer imports from the FTA CPTTP market reached 440,874 tons, equivalent to 139 million USD, down 15.6% in volume but up 17.3% in turnover over the same period, accounting for 15.9% of the total volume and accounting for 10 .7% of the total fertilizer import turnover of the country.

In general, in the first 10 months of 2022, fertilizer imports from most markets increased in turnover compared to the same period in 2021.

Fertilizer exports hit the threshold of 1 billion USD

In the opposite direction, in the first 10 months of the year, Vietnam also recorded a record increase in fertilizer exports with about 1.5 million tons, with a turnover of nearly 973 million USD.

Compared to the same period in 2021, fertilizer exports increased by 45.5% in volume and nearly 2.6 times in turnover.

Mr. Phung Ha - General Secretary of the Vietnam Fertilizer Association said that Vietnam's fertilizer exports in 2022 could exceed 1 billion USD.

Mr. Phung Ha also gave a figure that in 2020, Vietnam exported 1.16 million tons of fertilizer, worth 341 million USD. The last time Vietnam exported more than 1 million tons of fertilizer was in 2014 (reaching 1.06 million tons). In 2021, the whole country exported 1.35 million tons of fertilizers of all kinds, worth 559 million USD, up 16.4% and 64% respectively compared to 2020.

The favorable export of fertilizers has made a series of names in the fertilizer industry such as Phu My Fertilizer, Ca Mau Fertilizer, a number of units in the Vietnam Chemical Group such as Southern Fertilizer, Binh Dien Fertilizer, etc. Profits increased over the same period.