However, fertilizer prices in Vietnam remained significantly lower than imported products, supported by ample domestic supply from major producers such as Ca Mau Fertilizer, Phu My Fertilizer, Binh Dien Fertilizer, and Lam Thao Fertilizer. Domestic production met around 80% of total demand, reducing reliance on imports.

Fertilizer demand entered the Summer–Autumn crop preparation period, with slightly improved buying activity, while prices generally remained stable.

Fertilizer prices remained stable
South Korean DAP was priced at around 1.07–1.12 million dong per bag, while Russian DAP ranged from 1.22 to 1.27 million dong per bag.

Potash prices stood at about 560,000 dong per bag for Ca Mau products and around 545,000 dong per bag for Phu My products.

Lam Thao superphosphate and Van Dien phosphate maintained prices of approximately 305,000 dong and 315,000 dong per bag, respectively.

NPK 16-16-8 (Ca Mau) was traded at around 725,000 dong per bag, while Dau Trau fertilizer products were priced at about 800,000 dong per bag. NPK 20-20-15 from Binh Dien remained among the highest-priced products at roughly 960,000 dong per bag.

Urea from Ca Mau held steady at around 675,000 dong per bag, maintaining a competitive advantage over imported products thanks to stable domestic supply.

Imports declined sharply
According to preliminary data from Vietnam Customs, Vietnam imported 460,735 tonnes of fertilizer in April 2026, valued at 151.8 million USD, with an average price of 329.47 USD per tonne. This represented an increase of 1.08% in volume, 2.79% in value, and 1.7% in price compared to March 2026. However, compared to April 2025, imports fell by 7.52% in volume and 4.29% in value, while prices rose by 3.49%.

In the first four months of 2026, total imports reached 1.37 million tonnes worth 454.3 million USD, with an average price of 330.61 USD per tonne, down 25.32% in volume and 22.54% in value year-on-year, but up 3.72% in price.

China remained the largest supplier, accounting for 50.97% of total volume and 45.46% of total import value, with 700,535 tonnes worth 206.5 million USD. While volume declined by 9.02%, import value rose by 7.14% and prices surged by 17.76% year-on-year.

Russia ranked second, accounting for 10.55% of volume and 16.96% of value, totaling 144,948 tonnes worth over 77 million USD. Imports from Russia dropped sharply by 41.63% in volume and 39.8% in value, although prices increased by 3.14%.

Laos followed, accounting for 8.08% of volume and 8.58% of value, with 110,989 tonnes worth 39 million USD. Volume declined by 27.63%, while value fell by 4.6%, but prices rose significantly by 31.82%.

Overall, fertilizer imports from most markets declined in the first four months of 2026 compared to the same period in 2025.

Exports surged strongly
Vietnam exported 379,088 tonnes of fertilizer in April 2026, valued at 229.6 million USD, with an average price of 605.87 USD per tonne. This marked an increase of 5.61% in volume, 33.07% in value, and 26% in price compared to March 2026. Year-on-year, exports surged by 137.1% in volume and 234.8% in value, with prices rising by 41.21%.

In the first four months of 2026, exports totaled 1.18 million tonnes worth 589.58 million USD, with an average price of 496 USD per tonne, up 56.26% in volume, 100.56% in value, and 28.35% in price compared to the same period in 2025.

Cambodia remained the largest export market, accounting for 17.02% of volume and 14.5% of value, with 202,322 tonnes worth 85 million USD. While volume declined slightly by 1.48%, export value increased by 25.79% and prices rose by 27.68%.

South Korea ranked second, with strong growth in April exports reaching 53,270 tonnes valued at 40.2 million USD, with an average price of 755.6 USD per tonne.

Philippines followed, importing 38,188 tonnes worth 22.45 million USD in April, with notable increases in both volume and value.

Overall, fertilizer exports to most markets recorded strong growth in both volume and value in the first four months of 2026.

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Outlook
Fertilizer prices were expected to remain elevated in the coming period due to tightening supply. The World Bank projected fertilizer prices in 2026 to rise by 31% year-on-year, with urea prices potentially increasing by around 60%.

If geopolitical tensions persist, input costs for fertilizer production will likely remain high, putting upward pressure on domestic prices. The upcoming Summer–Autumn crop season may pose challenges for farmers, as production costs—already typically nearly double those of the Winter–Spring crop due to unfavorable weather and pest pressure—are expected to rise further alongside fertilizer and agricultural input prices.