AsemconnectVietnam - In the first 2 months of 2023, Vietnam’s fertilizer imports reached over 321,498 tonnes, worth of over 124.31 million USD, the average price reached 386.7 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, in February of 2023, the whole country imported 182,557 tonnes of fertilizer, equivalent to 67.52 million USD, the average price was 369.9 USD/tonne, up by 31% in volume, up by 18.3% turnover but 9.7% decrease in price compared to January of 2023. In comparison to February of 2022, there was a sharp decrease in volume, turnover and price with a decrease of 32.3%, 48.6% and 24% respectively.
In February of 2023, the country’s fertilizer imports from the main market China increased by 25.6% in volume, up by 23.5% in turnover, but decreased by 1.6% in price compared to January of 2023, reaching 88,249 tonnes, equivalent to 31.89 million USD, and price 361.4 USD/tonne. In comparison to February of 2022, it decreased by 0.7% in volume, 11% in turnover and 10.4% in price.
The imports from South Korean market in February of 2023 increased very strongly, up by 74.2% in volume, 315.5% in turnover and 138.5% in price compared to January of 2023, reaching 16,061 tonnes, equivalent to over 12.54 million USD, and price of 780.9 USD/tonne. In comparison with February of 2022, it decreased by 24.3% in volume, decreased by 12.8% in turnover but increased by 15% in price.
Generally in the first 2 months of 2023, the country's imported fertilizer amount reached over 321,498 tonnes, worth of over 124.31 million USD, the average price reached 386.7 USD/tonne, a sharp decrease of 45.9% in volume, down by 56.5% in value and 19.6% in price over the same period of 2022.
China was still the leading market for supplying fertilizer to Vietnam, accounting for 49.2% of the total volume and accounting for 49.2% of the total volume and 46.2% of the total fertilizer import turnover of the whole country, reaching 158,092 tonnes, equivalent to 57.42 million USD, average price was 363.2 USD/tonne, down by 30% in volume, down by 38.5% in turnover and decrease 12% in price over the same period of 2022.
South Korea ranked second, accounting for 7.9% of the total volume and accounting for 12.5% of the total turnover, with 25,279 tonnes, equivalent to 15.56 million USD, the average price of 615.6 USD/tonne, down by 29.9% in volume, down by 26.7% in turnover but up by 4.6% in price compared to the first two months of 2022.
Fertilizer imports from Southeast Asia market reached 35,120 tonnes, equivalent to 16.11 million USD, up by 14.3% in volume, down by 18.5% in turnover over the same period last year, accounting for 10.9% of the total volume and accounted for 13% of the total fertilizer import turnover of the country.
Fertilizers imported from the FTA CPTTP market reached 64,938 tonnes, equivalent to 11.5 million USD, down by 41.5% in volume, down by 73.4% in turnover over the same period last year, accounting for 20.2% of the total and accounting for 9.3% of the total fertilizer import turnover of the country.
Fertilizer imports from the RCEP FTA market reached 273,932 tonnes, equivalent to 95.73 million USD, down by 22.8% in volume, down by 34.6% in turnover over the same period last year, accounting for 85% of the total volume and accounting for 77 % of the total fertilizer import turnover of the country.
In general, in the first 2 months of 2023, fertilizer imports from most markets decreased in both volume and turnover compared to the same period of 2022.
CK
Source: VITIC