AsemconnectVietnam - In the first 8 months of 2024, Vietnam exported nearly 1.17 million tonnes of various fertilizers, equivalent to over 478.69 million USD, with an average price of 410.8 USD/tonne.

Meanwhile, also in the first 8 months of 2024, the country's imported fertilizer volume reached nearly 3.5 million tonnes, worth nearly 1.14 billion USD, with an average price of 324.8 USD/tonne.
Vietnam's fertilizer exports in August and the first 8 months of 2024
According to statistics from the General Department of Customs, in the first 8 months of 2024, the whole country exported nearly 1.17 million tonnes of fertilizers of all kinds, equivalent to over 478.69 million USD, with an average price of 410.8 USD/tonne, up by 5.9% in volume, up by 6.4% in turnover and up by 0.5% in price compared to the same period of 2023.
In August of 2024 alone, 131,735 tonnes of fertilizers of all kinds were exported, reaching 58.51 million USD, with a price of 444.2 USD/tonne, down by 0.4% in volume, down by 0.5% in turnover and down 0.14% in price compared to July of 2024. Compared to August of 2023, it also decreased by 16.7% in volume, decreased by 0.6% in turnover but increased by 19.2% in price.
Vietnam's main fertilizer export markets in the first 8 months of 2024
Vietnam's fertilizer exports were mainly to the Cambodian market, which alone accounts for 31.6% of the total volume and 32% of the total fertilizer export turnover of the country, reaching 368,395 tonnes, equivalent to 153.12 million USD, with an average price of 415.7 USD/tonne, down 8.4% in volume, down by 8.7% in turnover and down by 0.4% in price compared to the same period of 2023. In August of 2024 alone, the exports to this market reached 50,031 tonnes, equivalent to 20.78 million USD, with an average price of 415.4 USD/tonne, down by 27.2% in volume, down by 31.4% in turnover, down by 5.7% in price compared to July of 2024.
Following the main market of Cambodia was the Korean market with 123,029 tonnes, equivalent to nearly 51.07 million USD, the average price is 415.1 USD/tonne, up by 151% in volume, up by 181% in turnover and up by 11.9% in price, accounting for nearly 11% in the total volume and total export turnover of fertilizers of the whole country.
The exports to the Malaysian market reached 84,910 tonnes, equivalent to 32.61 million USD, the average price is 381 USD/tonne, up by 25.4% in volume, up by 45% in turnover and up by 15.6% in price, accounting for 7.3% in total volume and 6.8% in total turnover.
Vietnam's fertilizer imports and import market in August of 2024
According to preliminary statistics from the General Department of Customs, in August of 2024, the whole country imported 448,923 tonnes of fertilizer, equivalent to 157.52 million USD, with an average price of 350.9 USD/tonne, up by 5.8% in volume, up by 14.9% in turnover and up 8.6% in price compared to July 2024. Compared to August of 2023, it decreased by 4.6% in volume, decreased by 0.8% in turnover but increased by 4% in price.
In August of 2024, fertilizer imports from the main market China decreased by 15.2% in volume, but increased by 2.8% in turnover, increased by 21.2% in price compared to July 2024, reaching 181,280 tonnes, equivalent to 72.68 million USD, price 400.9 USD/tonne. Compared to August of 2023, it increased by 8.7% in volume, increased by 44.4% in turnover and increased by 32.9% in price. The imports from the Russian market in August of 2024 increased sharply by 1.372% in volume and increased by 919.3% in turnover but decreased by 30.7% in price compared to July of 2024, reaching 70,069 tonnes, equivalent to over 22.43 million USD, price 320 USD/tonne. Compared to August of 2023, it decreased by 38% in volume, 54.8% in turnover and 27% in price.
Vietnam's fertilizer imports and import market in the first 8 months of 2024
In general, in the first 8 months of 2024, the country's fertilizer import volume reached nearly 3.5 million tonnes, worth of nearly 1.14 billion USD, the average price reached 324.8 USD/tonne, up by 43.6% in volume, up by 36.9% in turnover but down by 4.6% in price compared to the first 8 months of 2023. China was still the leading fertilizer supplier to Vietnam, accounting for 40.9% of the total volume and 36.7% of the total fertilizer import turnover of the country, reaching nearly 1.43 million tonnes, equivalent to 439.13 million USD, the average price was 307.6 USD/tonne, up over 17% in both volume and turnover but down 0.1% in price compared to the first 8 months of 2023.
Russian market ranked second, accounting for 12.4% of the total volume and 16.6% of the total turnover, with 434,472 tonnes, equivalent to 187.91 million USD, the average price was 432.5 USD/tonne, up 133.3% in volume, up 112.4% in turnover but down 9% in price compared to the first 8 months of 2023.
Fertilizer imports from the Lao market reached 240,561 tonnes, equivalent to 62.13 million USD, up 27.2% in volume, but down 5.7% in turnover compared to the same period, accounting for over 6.9% of the total volume and 5.5% of the total fertilizer import turnover of the whole country.
In general, in the first 8 months of 2024, fertilizer imports from most markets increased compared to the first 8 months of 2023.
CK
Source: VITIC