AsemconnectVietnam - In the first 6 months of 2023, Vietnams's imported fertilizer volume reached over 1.7 million tonnes, worth of over 589.16 million USD, the average price reached 346.2 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, in June of 2023, the whole country imported 415,196 tonnes of fertilizer, equivalent to 131.29 million USD, the average price was 316.2 USD/tonne, up by 7.3% in volume, up by 6.9% in turnover but down by 0.4% in price compared to May of 2023. In comparison to June of 2022, it increased sharply by 79.4% in volume, increased by 21.9% in turnover but decreased sharply by 32% in price.
In June of 2023, the fertilizer imports from the main market of China increased sharply by 44.9% in volume, 48.6% in turnover and 2.6% in price compared to May of 2023, reaching 221,988 tonnes, equivalent to 64.66 million USD, the price was at 291.3 USD/tonne. In comparison to June of 2022, it also increased by 61.2% in volume, increased by 11% in turnover but decreased by 31% in price. The imports from Laos market in June of 2023 decreased by 12% in volume, decreased by 5.6% in turnover but increased by 7.5% in price compared to May of 2023, reaching 22,482 tonnes, equivalent to nearly 8.76 million USD, the price was at 389.6 USD/tonne. In comparison to June of 2022, it increased sharply by 344% in volume, increased by 139.6% in turnover but decreased sharply by 46% in price.
Generally in the first 6 months of 2023, the country's imported fertilizer amount reached over 1.7 million tonnes, worth of over 589.16 million USD, the average price reached 346.2 USD/tonne, down by 4.4% in volume, down by 30.4% in value and by 27.3% in price compared to the first six months of 2022. China was still the leading market for supplying fertilizer to Vietnam, accounting for 50.2% of the total volume and accounting for 46.5% of the country's total fertilizer import turnover, reaching 853,782 tonnes, equivalent to 273.81 million USD, the average price reached 320.7 USD/tonne, up by 1.9% in volume, but down by 20.6% in turnover and 22% in price compared to the first 6 months of 2022.
Laos market ranked second, accounting for 6.3% of the total volume and accounting for 7.2% of the total turnover, with 107,336 tonnes, equivalent to 42.6 million USD, the average price of 396.9 USD/tonne, increased by 34.2% in volume, but decreased by 7% in turnover and decreased by 30.8% in price compared to the first 6 months of 2022.
Fertilizer imports from the Southeast Asian market reached 230,643 tonnes, equivalent to 90.07 million USD, up by 54.8% in volume, but down by 2.9% in turnover over the same period last year, accounting for 13.6% of the total volume and accounted for 15.3% of the total fertilizer import turnover of the country.
Fertilizers imported from the FTA RCEP markets reached 1.32 million tonnes, equivalent to 417.75 million USD, up by 3.7% in volume, down by 20.3% in turnover over the same period, accounting for 77.2% in total volume and accounted for 70.9% of the total fertilizer import turnover of the country.
Fertilizer imports from the FTA CPTTP markets reached 192,593 tonnes, equivalent to 29.78 million USD, down by 31% in volume, down by 68.3% in turnover over the same period last year, accounting for 11.3% of the total volume and accounting for 5 % of the total fertilizer import turnover of the country.
CK
Source: VITIC