According to statistics from General Department of Customs, in 2024, Vietnam exported nearly 1.73 million tonnes of fertilizers of all kinds, equivalent to over 709.91 million USD, with an average price of 411.1 USD/tonne, up 11.7% in volume, up 9.4% in turnover but down slightly 2% in price compared to the same period in 2023.
In December 2024 alone, 154,801 tonnes of fertilizers of all kinds were exported, reaching 65.35 million USD, with a price of 422.1 USD/tonne, up 18.4% in volume, up 21.4% in turnover and up 2.5% in price compared to November 2024; compared to December 2023, it decreased by 4.9% in volume, down 8.3% in turnover and down 3.6% in price.
Vietnam's fertilizer exports are mainly to Cambodian market, which alone accounts for 34.3% of total volume and 33.9% of total fertilizer export turnover of the country, reaching 592,121 tonnes, equivalent to 240.82 million USD, with an average price of 406.7 USD/tonne, up 1.4% in volume, down 2.3% in turnover and down 3.6% in price compared to the same period in 2023.
In December 2024 alone, export to this market reached 55,980 tonnes, equivalent to 21.24 million USD, with an average price of 379.5 USD/tonne, down 2.8% in volume, down 4% in turnover and down 1.3% in price compared to November 2024.
Following main market of Cambodia is Korean market with 220,174 tonnes, equivalent to 89.14 million USD, average price of 404.9 USD/tonne, a sharp increase of 146.6% in volume, 154.6% in turnover and 3.2% in price, accounting for nearly 13% of total volume and total export turnover of fertilizers of the whole country.
Exports to the Philippine market reached 109,381 tonnes, equivalent to 46.35 million USD, average price of 423.8 USD/tonne, up 93.3% in volume, up 78.9% in turnover but price decreased by 7.4%, accounting for 6.3% of total volume and 6.5% of total turnover.
However, forecasts for 2025 show that fertilizer prices increase slightly globally, by about 3-5%, which is likely to impact domestic prices, especially in areas heavily dependent on imported fertilizers.
Trend of using chemical and organic fertilizers in a period of 2024-2029 is forecast to reach a compound annual growth rate of 6.5% - 6.7%, reflecting the trend of shifting to sustainable and environmentally friendly agriculture.
International Fertilizer Association (IFA) forecasts that urea consumption demand will increase by 6% in a period of 2024 - 2028. In addition, fertilizer export are expected to recover, especially in traditional markets such as Cambodia and South Korea. At the same time, Vietnam is also expanding its market to Europe, where product quality standards are higher.

Source: Vitic/ congthuong.vn