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Exports and imports of fertilizer in October and 10 months of 2023 

 Tuesday, November 28,2023

AsemconnectVietnam - In the first 10 months of 2023, the country exported nearly 1.3 million tonnes of fertilizers of all kinds, equivalent to 540.01 million USD, the average price was 415.6 USD/tonne, showed the statistics figures from the General Department of Customs.

Also in the first 10 months of 2023, the country's imported fertilizer volume reached over 3.36 million tonnes, worth of nearly 1.14 billion USD, with an average price of 338 USD/tonne.
Vietnam’s exports of fertilizer in October and first 10 months of 2023
According to the statistics figures from the General Department of Customs, in the first 10 months of 2023, the country exported nearly 1.3 million tonnes of fertilizers of all kinds, equivalent to 540.01 million USD, average price of 415.6 USD/tonne, a decrease 14.7% in volume, 44.5% decrease in turnover and 34.9% decrease in price compared to the same period of 2022.
In October of 2023 alone, 106,889 tonnes of fertilizers of all kinds were exported, reaching 48.72 million USD, priced at 455.8 USD/tonne, an increase of 16.5% in volume, an increase of 18% in turnover and an increase of 1.3% in value compared to September of 2023. In comparison to October of 2022, there was a decrease of 21.3% in volume, a decrease of 44.1% in turnover and a decrease of 29% in price.
Leading fertilizer export markets in October and the first 10 months of 2023
Vietnam's fertilizer exports were mainly to the Cambodian market. This market alone accounted for over 36% of the total volume and total fertilizer export turnover of the country, reaching 467,931 tonnes, equivalent to 198 million USD, the average price was 423.2 USD/tonne, up by 13.8% in volume but down by 9.6% in turnover and down by 20.5% in price compared to the same period of 2022. Particularly in October of 2023, the exports to this market reached 29,226 tonnes, equivalent to 13.06 million USD, the average price was 446.8 USD/tonne, down by 20.5% in volume, down by 24% in turnover, and down by 4.5% in price compared to September of 2023.
Behind the main market of Cambodia was the Malaysian market with 81,410 tonnes, equivalent to 27.58 million USD, the average price was at 338.8 USD/tonne, down by 31.4% in volume, down by 56.2% in turnover and down by 36.2% of price, accounted for 6.3% of total volume and 5.1% of total fertilizer export turnover of the country.
The exports to the South Korean market reached 59,864 tonnes, equivalent to 22.84 million USD, the average price was 381.5 USD/tonne, a sharp decrease of 30% in volume, 64% decrease in turnover and 48.6% decrease in price, accounting for 4.6% of total volume and 4.2% of total turnover.
The exports to FTA RCEP markets reached 759,739 tonnes, equivalent to 316.33 million USD, down by 9.5% in volume and by 37% in turnover. Meanwhile, the exports to CPTTP FTA markets reached 87,805 tonnes, equivalent to 30.31 million USD, down by 37% in volume, down by 60.8% in turnover. The exports to the Southeast Asian market reached 693,480 tonnes, equivalent to 290.76 million USD, down by 5.3% in volume and 31.4% in turnover.
Vietnam’s fertilizer imports in October and 10 months of 2023
According to the preliminary statistics figures of the General Department of Customs, in October of 2023 the whole country imported 411,702 tonnes of fertilizer, equivalent to 141.63 million USD, average price of 344 USD/tonne, down by 12.6% in volume, down by 9.4% in turnover but up by 3.7% in price compared to September of 2023. In comparison to October of 2022, the figure increased by 28.3% in volume, but decreased by 7.8% in turnover and decreased by 28% in price.
In October of 2023, fertilizer imports from the main market China decreased slightly by 1.8% in volume, but increased by 5.5% in turnover and 7.5% in price compared to September of 2023, reaching 207,965 tonnes, equivalent to 75.25 million USD, the price was at 361.9 USD/tonne. In comparison to October of 2022, it increased by 8.5% in volume, but decreased by 9.7% in turnover and decreased by 16.8% in price.
The imports from the Russian market in October of 2023 continued to decrease by 26.2% in volume, 34.6% in turnover and 11.4% in price compared to September of 2023, reaching 5,948 tonnes, equivalent to over 2.17 million USD, the price was at 364.4 USD/tonne. In comparison to October of 2022, it also decreased sharply by 84.5% in volume, 93.3% in turnover and 57% in price.
In the first 10 months of 2023, the country's imported fertilizer volume reached over 3.36 million tonnes, worth of nearly 1.14 billion USD, the average price reached 338 USD/tonne, an increase of 21.3% in volume but down by 12.6% in value and 27.9% in price compared to the first 10 months of 2022.
Leading fertilizer import markets in October and first 10 months of 2023
China still led the fertilizer supply market for Vietnam, accounting for 48.7% of the total volume and accounting for 45.8% of the country's total fertilizer import turnover, reaching 1.63 million tonnes, equivalent to 520.85 million USD, the average price was at 318.7 USD/tonme, an increase of 16.8% in volume, but down by 10.9% in turnover and down by 23.7% in price compared to the first 10 months of 2022.
The Russian market ranked second, accounting for 6% of the total volume and 8.3% of the total turnover, with 200,213 tonnes, equivalent to 93.94 million USD, average price was at 469.2 USD/tonne, down by 7.4% in volume, down by 39.6% in turnover and down by 34.7% in price compared to the first 10 months of 2022.
Fertilizer imports from the Southeast Asian market reached 402,529 tonnes, equivalent to 146.12 million USD, an increase of 72.7% in volume, an increase of 1.2% in turnover over the same period last year, accounting for 12% of the total volume and accounting for 12.9% of the country's total fertilizer import turnover.
Fertilizer imports from the FTA RCEP market reached 2.43 million tonnes, equivalent to 745.02 million USD, an increase of 18% in volume, a decrease of 11.5% in turnover over the same period last year, accounting for 72.3% of the total volume and for 65.5% of the country's total fertilizer import turnover.
Fertilizer imports from the FTA CPTTP market reached 377,339 tonnes, equivalent to 61.39 million USD, down by 14.5% in volume, down by 55.9% in turnover over the same period last year, accounting for 11.2% of the total volume and accounting for 5.4% of the country's total fertilizer import turnover.
In general, in the first 10 months of 2023, fertilizer import turnover from most markets decreased compared to the same period of 2022.
CK
Source: VITIC

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