AsemconnectVietnam - In the first 5 months of 2023, Vietnam's imports of fertilizer reached 1.29 million tonnes, worth of over 458.43 million USD, the average price reached 355.7 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, in May of 2023, the whole country imported 386,856 tonnes of fertilizer, equivalent to 122.81 million USD, the average price was 317.5 USD/tonne, up by 25.7% in volume , up by 11.9% in turnover but down by 11% in price compared to April of 2023. In comparison to May of 2022, it increased by 25.7% in volume, but decreased by 18.6% in turnover and decreased by 35.2% in price.
In May of 2023, the country’s fertilizer imports from the main market of China decreased by 13.4% in volume, decreased by 25.6% in turnover and decreased by 14% in price compared to April of 2023, reaching 153,259 tonnes, equivalent to 43.51 million USD, the price was 283.9 USD/tonne. In comparison to May of 2022, it decreased by 15.9% in volume, by 44.7% in turnover and by 34.2% in price.
The imports from Laos market in May of 2023 increased sharply by 35.5% in volume, increased by 29.2% in turnover but decreased by 4.6% in price compared to April of 2023, reaching 25,582 tonnes, equivalent to over 9.28 million USD, the price was at 362.6 USD/tonne. In comparison to May of 2022, the figure also increased strongly by 141% in volume, increased by 31.2% in turnover but sharply decreased by 45.6% in price.
Generally, in the first 5 months of 2023, the country's fertilizer import volume reached 1.29 million tonnes, worth of over 458.43 million USD, the average price reached 355.7 USD/tonne, down by 16.6% in volume, down by 37.8% in value and by 25.4% in price compared to the first five months of 2022. China was still the leading fertilizer supplier to Vietnam, accounting for 49% of the total volume and accounting for 45.7% of the total fertilizer import turnover of the whole country, reaching 632,322 tonnes, equivalent to 209.44 million USD, the average price was 331.2 USD/tonne, down by 9.7% in volume, down by 26.9 % in turnover and by 19% in price compared to the first 5 months of 2022
Laos ranked second, accounting for 6.6% of the total volume and 7.3% of the total turnover, with 85,184 tonnes, equivalent to 33.67 million USD, the average price was 395.3 USD/tonne, increased by 13.7% in volume, but decreased by 20.3% in turnover and decreased by 29.9% in price compared to the first 5 months of 2022.
Fertilizer imports from the Southeast Asian market reached 182,425 tonnes, equivalent to 71.72 million USD, up by 36.6% in volume, but down by 12.9% in turnover over the same period, accounting for 14.2% of the total volume and accounted for 15.6% of the total fertilizer import turnover of the country.
Fertilizers imported from the FTA RCEP market reached 994,505 tonnes, equivalent to 325.42 million USD, down by 8.3% in volume, down by 28% in turnover over the same period last year, accounting for 77.2% of the total volume and 71 % of the total fertilizer import turnover of the country.
Fertilizer imports from the FTA CPTTP market reached 146,764 tonnes, equivalent to USD 22.91 million, down by 37.7% in volume, down by 70.4% in turnover over the same period last year, accounting for 11.4% of the total and accounting for 5% of the total fertilizer import turnover of the country.
CK
Source: VITIC