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Vietnam's fertilizer exports and imports in May and first 5 months of 2024 

 Tuesday, June 18,2024

AsemconnectVietnam - In the first 5 months of 2024, the country exported 721,920 tonnes of fertilizers of all kinds, equivalent to over 293.91 million USD, average price 407.1 USD/tonne.

Also in the first 5 months of 2024, Vietnam's imports of fertilizer reached over 2.12 million tonnes, worth of over 681.9 million USD, the average price reached 321.4 USD/tonne.
Vietnam’s fertilizer exports in May and the first 5 months of 2024
According to the statistics figures from the General Department of Customs, in the first 5 months of 2024, the country exported nearly 721,920 tonnes of fertilizers of all kinds, equivalent to 293.91 million USD, the average price was 407.1 USD/tonne, an increase of 4.3% in volume, up by 1.7% in turnover but down by 2.5% in price compared to the same period of 2023.
In May of 2024 alone, Vietnam’s exports of fertilizers of all kinds reached 97,310 tonnes worth of 41.41 million USD, the price was at 425.5 USD/tonne, down by 21.4% in volume, down by 6.1% in turnover but up by 19.5% in price compared to April of 2024. In comparison to May of 2023, it was down by 37.2% in volume, down by 27.2% in turnover but up by 15.9% in price.
Vietnam’s leading fertilizer export markets in May and the first 5 months of 2024
Vietnam's fertilizer exports were mainly to the Cambodian market, which alone accounted for over 26% of the country's total fertilizer export volume and turnover, reaching 188,792 tonnes, equivalent to 76.48 million USD, the average price was 405 USD/tonne, down by 17% in volume, down by 19.9% in turnover and down by 3.4% in price compared to the same period of 2023. In May of 2024 alone, the exports to this market reached 42,813 tonnes , equivalent to 17.09 million USD, the average price was 399 USD/tonne, up by 1.3% in volume, up by 1.7% in turnover, and the price was up by 0.4% compared to April of 2024.
Behind the main market of Cambodia was the South Korean market with 85,507 tonnes, equivalent to 35.29 million USD, the average price was 412.7 USD/tonne, an increase of 78.8% in volume, an increase of 100.3% in turnover and increased 12% in price, accounting for 12% of the total volume and total fertilizer export turnover of the country.
The exports to the Philippine market reached 39,133 tonnes, equivalent to 18.87 million USD, the average price was 482.2 USD/tonne, a sharp increase of 176.4% in volume, an increase of 133% in turnover but a decrease in price of 15.7%, accounting for 5.4% of the total volume and 6.4% of the total turnover.
Vietnam's fertilizer imports in May and the first 5 months of 2024
According to the preliminary statistics figures of the General Department of Customs, in May 2024 the country imported 531,849 tonnes of fertilizer, equivalent to 176.64 million USD, average price 332.1 USD/tonne, an increase of 7.4% in volume. , an increase of 8.3% in turnover and an increase of 0.8% in price compared to April 2024. Compared to May 2023, it increased sharply by 37.5% in volume, 43.8% in turnover and 4.6% in price.
Vietnam's main fertilizer import markets in May and the first 5 months of 2024
In May of 2024, fertilizer imports from the main market China decreased by 3.4% in volume, but increased by 0.2% in turnover and increased by 3.7% in price compared to April of 2024, reaching 186,366 tonnes, equivalent to 63.24 million USD, the price was 339.3 USD/tonne. In comparison to May of 2023, it increased by 21.6% in volume, 45.3% in turnover and 19.5% in price. The imports from the Russian market in May of 2024 decreased by 7.7% in volume but increased by 14.8% in turnover and increased by 24.4% in price compared to April of 2024, reaching 93,667 tonnes, equivalent to over 36.59 million USD, price of 390.6 USD/tonne. In comparison to May of 2023, it increased sharply by 161.6% in volume, increased by 108.2% in turnover but decreased by 20.4% in price.
Overall, in the first 5 months of 2024, the country's imports of fertilizer reached over 2.12 million tonnes, worth of over 681.9 million USD, the average price reached 321.4 USD/tonne, an increase of 64.6% in volume, up by 48.8% in value but down by 9.7% in price compared to the first 5 months of 2023. China still led the fertilizer supply markets for Vietnam, accounting for 39.8% of the total volume and accounted for 33.8% of the country's total fertilizer import turnover, reaching 845,258 tonnes, equivalent to 230.45 million USD, the average price was 272.6 USD/tonne, an increase of 33.7% in volume, an increase 10% in turnover but down by 17.7% in price compared to the first 5 months of 2023.
The next was the Russian market, accounting for 15.8% of the total volume and 22.3% of the total turnover, with 335,581 tonnes, equivalent to 152.28 million USD, the average price was 453.8 USD/tonne, up by 453.6% in volume, up by 371.7% in turnover but down by 14.8% in price compared to the first 5 months of 2023.
Fertilizer imports from the Laos market reached 141,887 tonnes, equivalent to 37.61 million USD, an increase of 66.6% in volume, an increase of 11.7% in turnover over the same period, accounting for over 6.7% of the total volume and accounting for 5.5% of the country's total fertilizer import turnover.
CK
Source: VITIC

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