In the Northern region, fertilizer prices continued to move sideways. Specifically, Ha Bac and Phu My urea were priced at VND560,000–590,000 per bag and VND540,000–580,000 per bag, respectively. Viet Nhat NPK 16-16-8+TE was traded at VND420,000–440,000 per bag, while NPK 16-16-8 was sold at higher levels, ranging from VND730,000 to VND760,000 per bag.

In the Central region, no new price adjustments were recorded. Phu My and Ha Anh powdered potash were quoted at around VND520,000–560,000 per bag, while NPK 16-16-8 was priced at VND700,000–740,000 per bag.

In the Southwestern region, fertilizer prices remained subdued. Hong Ha DAP recorded the highest level in the region, ranging from VND1,250,000 to VND1,300,000 per bag. Ca Mau and Phu My urea were traded at VND620,000–640,000 per bag and VND610,000–630,000 per bag, respectively.

In the Southeast and Central Highlands, fertilizer prices remained stable. Ca Mau and Phu My powdered potash were quoted at VND490,000–580,000 per bag. NPK 16-16-8 prices ranged from VND650,000 to VND750,000 per bag depending on brand. Phu My recorded the lowest price range at VND650,000–750,000 per bag, followed by Ca Mau at VND660,000–750,000 per bag, while Dau Trau had the highest starting price at VND670,000 per bag.

According to preliminary statistics from the Vietnam Customs Authority, in November 2025 Vietnam imported 358,596 tonnes of fertilizer worth USD127.6 million, with an average price of USD355.8 per tonne. This represented a decrease of 34.4% in volume, 36.9% in value and 3.8% in price compared with October 2025. Compared with November 2024, imports declined by 24.5% in volume and 18.8% in value, while the average price increased by 7.6%.

Cumulatively in the first 11 months of 2025, fertilizer imports reached over 5.73 million tonnes, valued at nearly USD2.04 billion, with an average price of USD355.2 per tonne. This marked increases of 19% in volume, 28.2% in value and 7.8% in price compared with the same period of 2024.

China remained the largest supplier, accounting for 48.6% of total import volume and 49% of total import value, with 2.79 million tonnes worth USD998.98 million at an average price of USD358.5 per tonne. Imports from China increased by 32.5% in volume, 48.3% in value and 12% in price year on year.

Russia ranked second, accounting for 11.1% of volume and 14.3% of value, with 638,848 tonnes worth USD291.63 million at an average price of USD456.5 per tonne, up 17.1% in volume, 28% in value and 9.4% in price.

Laos ranked third, accounting for 5.3% of volume and 4.4% of value, with 305,382 tonnes worth USD90 million at an average price of USD294.7 per tonne. Import volume declined by 3.1%, while value and price increased by 10.4% and 13.9%, respectively.

Table: Fertilizer imports in the first 11 months of 2025
(Calculated from Vietnam Customs data released on 10 December 2025)

Source: Vietnam Customs Authority

According to preliminary data from the Vietnam Customs Authority, in November 2025 Vietnam exported 88,759 tonnes of fertilizer worth USD44.35 million, with an average price of USD499.7 per tonne. Export volume fell by 12.7% month on month, while export value increased slightly by 0.2% and average prices rose by 14.7%. Compared with November 2024, exports declined by 32.1% in volume and 17.2% in value, while prices increased by 21.3%.

In the first 11 months of 2025, fertilizer exports reached nearly 1.86 million tonnes, valued at USD791.77 million, with an average price of USD426.7 per tonne. This represented increases of 18% in volume, 22.9% in value and 4.1% in price compared with the same period of 2024.

Cambodia was the largest export market, accounting for 35% of total export volume and 33.6% of total export value, with 650,116 tonnes worth USD265.67 million at an average price of USD408.7 per tonne. Export volume and value increased by 21.3% and 21%, respectively, while the average price edged down by 0.2% year on year.

South Korea ranked second, with exports of 111,042 tonnes worth USD45.84 million at an average price of USD412.8 per tonne. Export volume and value declined by 41% and 39.8%, respectively, while prices rose by 2%. Malaysia followed, importing 102,466 tonnes worth USD43.92 million at an average price of USD428.6 per tonne, up 2.2% in volume, 15.1% in value and 12.7% in price.

Overall, fertilizer exports to most markets increased in both volume and value during the first 11 months of 2025 compared with the same period of 2024.

Table: Fertilizer exports in the first 11 months of 2025
(Calculated from Vietnam Customs data released on 10 December 2025)

Source: Vietnam Customs

In the first half of 2026, global fertilizer prices are expected to continue rising before gradually easing in the second half of 2026.

Global fertilizer demand is forecast to increase as major agricultural producers such as Brazil and India recover and expand production, while African countries accelerate agricultural development. Meanwhile, supply is likely to remain constrained by China’s export restrictions and sanctions imposed by the EU. China has continued to limit fertilizer exports, leading to a sharp decline in DAP and urea exports since 2024. Egypt, the world’s sixth-largest urea producer, has decided to indefinitely extend a 30% cut in natural gas supply to all urea producers. In addition, Russia, the world’s second-largest fertilizer producer, did not extend its fertilizer export quota after May 2025, following a sharp increase in EU import tariffs on Russian fertilizers.

In Vietnam, fertilizer demand is expected to remain stable at around 10.6–10.8 million tonnes for the full year. Favorable weather conditions and relatively strong prices for key agricultural commodities such as rice and coffee are expected to support demand, preventing a decline seen in earlier difficult periods. Moreover, the application of a 5% VAT on fertilizers will allow domestic producers to deduct input VAT, helping reduce production costs and enhance competitiveness against imported fertilizers.
T.Huong
Source: Vitic