AsemconnectVietnam - In the first 9 months of 2023, Vietnam’s imports of fertilizer reached over 2.95 million tonnes, worth of nearly 995.77 million USD, the average price reached 337.3 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, in September of 2023, Vietnam imported 471,177 tonnes of fertilizer, equivalent to 156.37 million USD, the average price was 331.9 USD/tonne, down by 0.2% in volume, down by 2% in turnover and 1.7% in price compared to August of 2023. In comparison to September of 2022, it increased sharply by 84.6% in volume, increased by 29.6% in turnover but decreased by 29.8% in price.
In September of 2023, Vietnam’s fertilizer imports from the main market China increased again by 25.6% in volume, 40.3% in turnover and 11.7% in price compared to August of 2023, reaching 211,835 tonnes, equivalent to 71.33 million USD, the price was at 336.7 USD/tonne. In comparison to September of 2022, it also increased by 40.5% in volume, increased by 7.7% in turnover but decreased by 23.3% in price. Notably, the imports from the Russian market in September of 2023 decreased sharply by 92.9% in volume, 93.3% in turnover and 6.2% in price compared to August of 2023, reaching 8,054 tonnes, equivalent to over 3.32 million USD, the price was at 411.3 USD/tonne. In comparison to September of 2022, it also decreased sharply by 68.2% in volume, decreased by 85.8% in turnover and decreased sharply by 55.3% in price.
In the first 9 months of 2023, the country's imports of fertilizer reached over 2.95 million tonnes, worth of nearly 995.77 million USD, the average price reached 337.3 USD/tonne, an increase of 20.4% in volume, but down by 13.2% in value and down by 27.9% in price compared to the first 9 months of 2022. China still leads the fertilizer supply market for Vietnam, accounting for 48.3% of the total volume and accounted for 44.8% of the country's total fertilizer import turnover, reaching 1.43 million tonnes, equivalent to 445.66 million USD, the average price was 312.5 USD/tonne, increased by 18% in volume, but down by 11% in turnover and down by 24.7% in price compared to the first 9 months of 2022.
The next was the Russian market, accounting for 6.6% of the total volume and 9.2% of the total turnover, with 194,265 tonnes, equivalent to 91.78 million USD, the average price was 472.4 USD/tonne, increased by 9.2% in volume, but decreased by 25.4% in turnover and decreased by 31.7% in price compared to the first 9 months of 2022.
Fertilizer imports from the Southeast Asian market reached 357,387 tonnes, equivalent to 129.63 million USD, up by 73.7% in volume, up by 0.7% in turnover over the same period last year, accounting for 12.1% of the total volume and accounted for 13% of the country's total fertilizer import turnover.
Fertilizer imports from the FTA RCEP market reached 2.14 million tonnes, equivalent to 646.83 million USD, an increase of 18.6% in volume, a decrease of 11.8% in turnover over the same period last year, accounting for 72.4% in total volume and accounted for 65% of the country's total fertilizer import turnover.
Fertilizer imports from the FTA CPTTP market reached 341,862 tonnes, equivalent to 56.64 million USD, down by 17.2% in volume, down by 58% in turnover over the same period last year, accounting for 11.6% of the total volume and accounting for 5.7% of the country's total fertilizer import turnover.
CK
Source: VITIC