According to statistics from General Department of Customs, in the first 8 months of 2024, Vietnam 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 5.9% in volume, up 6.4% in turnover and up 0.5% in price compared to the same period in 2023.
In August 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 0.4% in volume, down 0.5% in turnover and down 0.14% in price compared to July 2024. Compared to August 2023, it also decreased by 16.7% in volume, down 0.6% in turnover but increased by 19.2% in price.
Vietnam's fertilizer exports are mainly to Cambodian market, which alone accounts for 31.6% of total volume and 32% of 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 8.7% in turnover and down 0.4% in price compared to the same period in 2023.
In August 2024 alone, exports to Cambodian market reached 50,031 tonnes, equivalent to 20.78 million USD, with an average price of 415.4 USD/ton, down 27.2% in volume, down 31.4% in turnover, down 5.7% in price compared to July 2024.
Following main market of Cambodia is Korean market with 123,029 tonnes, equivalent to nearly 51.07 million USD, average price is 415.1 USD/tonne, up 151% in volume, 181% in turnover and 11.9% in price, accounting for nearly 11% of total volume and total export turnover of fertilizers of the whole country.
Exports to Malaysian market reached 84,910 tonnes, equivalent to 32.61 million USD, average price is 381 USD/tonne, up 25.4% in volume, 45% in turnover and 15.6% in price, accounting for 7.3% of total volume and 6.8% of total turnover.
Information from Ca Mau Petroleum Fertilizer Joint Stock Company said that in August 2024, enterprise produced 45,610 tonnes of urea. Monthly urea consumption output of enterprise reached 31,940 tonnes, of which 16,160 tonnes were exported. In August 2024, Ca Mau Fertilizer produced 9,690 tonnes, monthly NPK consumption output of the enterprise reached 2,370 tonnes. Accumulated in the first 8 months of 2024, Ca Mau Fertilizer produced 634,560 tonnes of urea, completing 71% of the yearly plan. Urea consumption reached 527,560 tonnes, completing 70% of the 2024 plan.
Of which, Ca Mau Fertilizer's urea fertilizer export reached 209,690 tonnes, completing 93% of the plan for 2024. With this amount of exported fertilizer, Ca Mau Fertilizer contributed 17.9% of Vietnam's total fertilizer export volume in the first 8 months of 2024. NPK production and consumption volume in the first 8 months of 2024 reached 119,540 tonnes and 80,180 tonnes, respectively, completing 66% and 44% of the yearly plan.
According to Vietnam Fertilizer Association, the world urea fertilizer market is expected to be more vibrant from the second half of this year when major consumers such as China, India, the US, Brazil and Europe simultaneously return to bidding.
Dr. Phung Ha, Vice President and General Secretary of Vietnam Fertilizer Association (FAV), said that Vietnam's fertilizer export proportion is increasing. Two years ago, we exported less than 1 billion USD. Since 2022, we have had a breakthrough when exporting 1.7 billion USD due to some countries restricting fertilizer exports.
Meanwhile, International Fertilizer Association (IFA) forecasts that global fertilizer consumption this year will increase by 4% compared to 2023, reaching 192.5 million tonnes.

Source: Vitic/ congthuong.vn