AsemconnectVietnam - According to the preliminary statistics figures from the General Department of Vietnam Customs, in the first eight months of 2026, China remained the largest supplier of fertilizers to Vietnam, with a volume of 1.02 million tonnes valued at US$301.04 million.

This represents a 295.5% increase in volume but a 48.36% decrease in value compared to the same period of 2025.
In terms of total import value in the eight-month period, China accounted for approximately 33.82%, indicating that the market remains significant despite the substantial decline in import value. Russia ranked second, supplying 352,280 tonnes valued at US$169.06 million, an increase of 479.9% in volume but a decrease of 39.48% in value, accounting for approximately 18.99% of the total import value. Together, China and Russia accounted for about 52.81% of Vietnam’s total fertilizer imports during this eight-month period.
Imports from ASEAN countries reached 237,450 tonnes, valued at US$82.95 million, a 349.4% increase in volume but a 50.33% decrease in value compared to the same period in 2025. Within the region, Laos was a notable supplier, providing 149,590 tonnes valued at US$53.85 million; Indonesia supplied 54,310 tonnes valued at US$11.19 million; and Malaysia supplied 19,020 tonnes valued at US$9 million. In addition, imports from Canada reached 124.39 thousand tonnes, valued at $47 million; from South Korea, 145,330 tonnes, valued at $45.43 million; from the EU, 69,420 tonnes, valued at $29.24 million; and from Belarus, 63,910 tonnes, valued at $24.47 million. Most of these sources saw a sharp increase in import volume alongside a decline in value, indicating that the average price of imported fertilizers has dropped significantly compared to the same period.
Notably, total fertilizer imports over the first eight months reached 2.59 million tonnes, valued at $890.18 million, a 343.6% surge in volume, yet a 40.32% decrease in value compared to the same period of 2025. This divergence, a substantial rise in import volume coupled with a drop in total import expenditure, reflects a significantly lower average import price level than in the previous year. There has also been a marked shift in the composition of supply sources: while China remains the leading supplier, its share has declined; meanwhile, Russia has seen rapid growth in volume, maintaining its position as the second-largest supplier. Furthermore, Canada, South Korea, Japan, Belarus, and several European markets have continued to contribute to the diversification of supply sources.
Vietnam’s fertilizer import market underwent significant changes during the first eight months of 2026 compared to the same period the previous year. The sharp rise in import volume alongside a decline in total value suggests a drop in average import prices, prompting businesses to increase their purchases at a lower cost. China and Russia remain the two primary suppliers; however, Russia’s standing has strengthened, while China’s relative role has diminished. This trend indicates that the supply base is becoming more diversified; however, a high level of concentration persists, with the two largest markets accounting for over 50% of the total value. Consequently, further expanding supply sources from ASEAN, Europe, North America, and Northeast Asia will help businesses reduce their reliance on a few major markets, while also mitigating risks associated with fluctuations in international prices, logistics, or supply availability.
Source: VITIC