AsemconnectVietnam - In the first quarter of 2023, Vietnam’s fertilizer imports reached 612,900 tonnes, worth over 237.52 million USD, the average price was 387.5 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, in March of 2023, the whole country imported 291,402 tonnes of fertilizer, equivalent to 113.2 million USD, the average price was 388.5 USD/tonne, up by 59.6% in volume, up by 67.7% in turnover and 5% in price compared to February of 2023. In comparison to March of 2022, the figure decreased by 13.3%, 27.7% and 16.6% respectively in volume, turnover and price.
In March of 2023, fertilizer imports from the main market China increased by 63% in volume, increased by 56.9% in turnover, but decreased by 3.7% in price compared to February of 2023, reaching 143,876 tonnes, equivalent to 143,876 50.05 million USD, and the price was at 347.8 USD/tonne
In comparison to March of 2022, it increased by 4.4% in volume, but decreased by 5% in turnover and decreased by 9% in price. The imports from the South Korean market in March of 2023 fell sharply by 64.7% in volume, 74.6% in turnover and 28.2% in price compared to February of 2023, reaching 5,678 tonnes, equivalent to over 3.18 million USD, price of 560.8 USD/tonne. In comparison with March of 2022, it increased strongly by 75.3% in volume, 140% in turnover and 37% in price.
Generally, in the first quarter of 2023, the country's fertilizer imports reached 612,900 tonnes, worth of over 237.52 million USD, the average price was 387.5 USD/tonne, down by 34% in volume, down by 46.2 % in turnover and down by 18.5% in price compared to the first quarter of 2022. China was still the leading fertilizer supplier to Vietnam, accounting for 49.3% of the total volume and 45.2% of the total fertilizer import turnover of the country, reaching 301,969 tonnes, equivalent to 107. 46 million USD, average price 355.9 USD/tonne, down by 16.7% in volume, down by 26% in turnover and down by 11.3% in price compared to the first quarter of 2022.
The South Korean market ranked second, accounting for 5% of the total volume and 7.9% of the total turnover, with 30,957 tonnes, equivalent to 18.74 million USD, the average price of 605.5 USD/tonne, down by 21.3% in volume, down by 17% in turnover but up by 5.5% in price compared to the first quarter of 2022.
Fertilizer imports from the Southeast Asian market reached 88,662 tonnes, equivalent to 36.89 million USD, up by 30% in volume, down by 8.4% in turnover over the same period last year, accounting for 14% of the total volume and accounting for 15.5 % of the total fertilizer import turnover of the country.
Fertilizers imported from the FTA CPTTP market reached 87,506 tonnes, equivalent to 13.44 million USD, down by 50% in volume, down by 77.3% in turnover over the same period last year, accounting for 14.3% of the total volume and accounting for 5.7% of the total fertilizer import turnover of the country.
Fertilizer imports from the RCEP FTA market reached 496,983 tonnes, equivalent to 171.34 million USD, down by 15.7% in volume, down by 26.6% in turnover over the same period last year, accounting for 81% of the total volume and accounting for 73 % of the total fertilizer import turnover of the country.
CK
Source: VITIC