AsemconnectVietnam - In the first 10 months of 2023, the country's imported fertilizer volume reached over 3.36 million tonnes, worth of nearly 1.14 billion USD, with an average price of 338 USD/tonne.

According to the preliminary statistics figures of the General Department of Customs, in October of 2023 the whole country imported 411,702 tonnes of fertilizer, equivalent to 141.63 million USD, average price of 344 USD/tonne, down by 12.6% in volume, down by 9.4% in turnover but up by 3.7% in price compared to September of 2023. In comparison to October of 2022, the figure increased by 28.3% in volume, but decreased by 7.8% in turnover and decreased by 28% in price.
In October of 2023, fertilizer imports from the main market China decreased slightly by 1.8% in volume, but increased by 5.5% in turnover and 7.5% in price compared to September of 2023, reaching 207,965 tonnes, equivalent to 75.25 million USD, the price was at 361.9 USD/tonne. In comparison to October of 2022, it increased by 8.5% in volume, but decreased by 9.7% in turnover and decreased by 16.8% in price.
The imports from the Russian market in October of 2023 continued to decrease by 26.2% in volume, 34.6% in turnover and 11.4% in price compared to September of 2023, reaching 5,948 tonnes, equivalent to over 2.17 million USD, the price was at 364.4 USD/tonne. In comparison to October of 2022, it also decreased sharply by 84.5% in volume, 93.3% in turnover and 57% in price.
In the first 10 months of 2023, the country's imported fertilizer volume reached over 3.36 million tonnes, worth of nearly 1.14 billion USD, the average price reached 338 USD/tonne, an increase of 21.3% in volume but down by 12.6% in value and 27.9% in price compared to the first 10 months of 2022.
China still led the fertilizer supply market for Vietnam, accounting for 48.7% of the total volume and accounting for 45.8% of the country's total fertilizer import turnover, reaching 1.63 million tonnes, equivalent to 520.85 million USD, the average price was at 318.7 USD/tonme, an increase of 16.8% in volume, but down by 10.9% in turnover and down by 23.7% in price compared to the first 10 months of 2022.
The Russian market ranked second, accounting for 6% of the total volume and 8.3% of the total turnover, with 200,213 tonnes, equivalent to 93.94 million USD, average price was at 469.2 USD/tonne, down by 7.4% in volume, down by 39.6% in turnover and down by 34.7% in price compared to the first 10 months of 2022.
Fertilizer imports from the Southeast Asian market reached 402,529 tonnes, equivalent to 146.12 million USD, an increase of 72.7% in volume, an increase of 1.2% in turnover over the same period last year, accounting for 12% of the total volume and accounting for 12.9% of the country's total fertilizer import turnover.
Fertilizer imports from the FTA RCEP market reached 2.43 million tonnes, equivalent to 745.02 million USD, an increase of 18% in volume, a decrease of 11.5% in turnover over the same period last year, accounting for 72.3% of the total volume and for 65.5% of the country's total fertilizer import turnover.
Fertilizer imports from the FTA CPTTP market reached 377,339 tonnes, equivalent to 61.39 million USD, down by 14.5% in volume, down by 55.9% in turnover over the same period last year, accounting for 11.2% of the total volume and accounting for 5.4% of the country's total fertilizer import turnover.
In general, in the first 10 months of 2023, fertilizer import turnover from most markets decreased compared to the same period of 2022.
CK
Source: VITIC