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Fertilizer exports and imports in February and first 2 months of 2024 

 Wednesday, March 27,2024

AsemconnectVietnam - According to the statistics figures from the General Department of Customs, in the first 2 months of 2024, the country exported 351,962 tonnes of fertilizers of all kinds, equivalent to 145.42 million USD.

Also in the first 2 months of 2024, the country's imported fertilizer amount reached 687,236 tonnes, equivalent to over 226.9 million USD.
Vietnam's fertilizer exports in February and the first 2 months of 2024
According to the statistics figures from the General Department of Customs, in the first 2 months of 2024, the country exported 351,962 tonnes of fertilizers of all kinds, equivalent to 145.42 million USD, the average price was 413.2 USD/tonne, up by 26.5 % in volume, and by 12.8% in turnover but down by 10.9% in price compared to the first 2 months of 2023.
In February of 2024 alone, 171,741 tonnes of fertilizers of all kinds were exported, reaching 72.52 million USD, priced at 422.3 USD/tonne, down by 4.7% in volume, down by 0.5% in turnover but up by 4.4% in price compared to January of 2024. In comparison to February of 2023, it increased 13.7% in volume, increased 11.5% in turnover but decreased 1.9% in price.
Vietnam’s main fertilizer export markets in February and the first 2 months of 2024
Cambodia was leading in the list of Vietnam's fertilizer export markets, accounting for over 19% of the country's total fertilizer export volume and turnover, reaching 67,530 tonnes, equivalent to 27.98 million USD, the average price was 414.3 USD/tonne, up by 10% in volume, but down by 5.4% in turnover and down by 14% in price compared to the same period of 2023. Particularly in February of 2024, the country’s exports to this market decreased by 21.3% in volume, down by 26% in turnover and down by 6% in price compared to January of 2024, reaching 29,750 tonnes, equivalent to 11.9 million USD.
Behind the main market of Cambodia were several markets, such as South Korea reaching 60,720 tonnes, equivalent to 25.2 million USD, the average price reached 415 USD/tonne, a sharp increase of 51.3% in volume, an increase of 63.6% in turnover and increased by 8.1% in price, accounting for over 17% of the total volume and total fertilizer export turnover of the country.
The exports to the Philippine market reached 17,894 tonnes, equivalent to 8.1 million USD, average price 454 USD/tonne, up by 217% in volume and 90.9% in turnover, the price decreased 39.8%, accounting for over 5 % of total volume and total turnover.
The exports to the Malaysian market reached 22,407 tonnes, equivalent to 7.4 million USD, average price 330.2 USD/tonne, up by 12.7% in volume, up by 19% in turnover, and the price was up by 5.7%, accounting for 6.4% of total volume and 5.1% of total turnover.
Vietnam's fertilizer imports in February and the first 2 months of 2024
According to the preliminary statistics figures of the General Department of Customs, in February of 2024 the whole country imported 281,588 tonnes of fertilizer, equivalent to 91.55 million USD, the average price was 325.1 USD/tonne, decreased in volume, turnover and prices compared to January of 2024, with a corresponding decrease of 32.1%, 33.8% and 2.5%. In comparison to February of 2023, it increased by 54.3% in volume, increased by 35.6% in turnover but decreased by 12% in price.
In the first 2 months of 2024, the country's imported fertilizer volume reached 687,236 tonnes, equivalent to over 226.9 million USD, an increase of 113.8% in volume and 82.5% in turnover compared to the first 2 months of 2023, the average price was at 330.2 USD/tonne, down by 14.6%.
Vietnam's main fertilizer import markets in February and the first 2 months of 2024
In February of 2024, Vietnam’s fertilizer imports from the main market Russia decreased by 32% in volume, decreased by 28% in turnover but increased by 6% in price compared to January of 2024, reaching 48,872 tonnes, equivalent to 31.55 million USD, the price was at 645.5 USD/tonne. In comparison to February 2023, it increased strongly by 4,396% in volume, increased by 4,066% in turnover but decreased by 7.3% in price. In total, for the first two months of the year, fertilizer imports from the Russian market accounted for 17.6% of the total volume and 33.2% of the country's total fertilizer import turnover, reaching 120,803 tonnes, equivalent to 75,000 tonnes worth of 35 million USD, the average price was 623.7 USD/tonne, a sharp increase of 3,661% in volume, an increase of 3,454% in turnover but a decrease of 5.5% in price compared to the first 2 months of 2023.
The next was the Chinese market, accounting for 42.4% of the total volume and 28.2% of the total turnover, reaching 291,224 tonnes, equivalent to 64.08 million USD, the average price was 220 USD/tonne, an increase of 84.2% in volume, 11.6% increase in turnover but 39.4% decrease in price compared to the first 2 months of 2023.
Laos market ranked third with 49,361 tonnes, equivalent to 13.52 million USD, priced at 273.9 USD/tonne, accounting for 7.2% of the total volume and 6% of the total fertilizer import turnover of the country; increased by 98% in volume, increased by 25.4% in turnover but decreased by 36.7% in price compared to the first 2 months of 2023.
CK
Source: VITIC

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