VINACHEM

According to the statistics figures from the General Department of Customs, in the first quarter of 2024, Vietnam exported nearly 499,786 tonnes of fertilizers of all kinds, equivalent to 207.79 million USD, with an average price of 415.8 USD/tonne.

Also in the first quarter, the country's imported fertilizer amount reached over 1.12 million tonnes, worth of nearly 351.9 million USD, the average price reached 314.2 USD/tonne.

Vietnam's fertilizer exports in March and the first 3 months of 2024

In the first 3 months of 2024, the country exported nearly 499,786 tonnes of fertilizers of all kinds, equivalent to 207.79 million USD, the average price was 415.8 USD/tonne.
According to the statistics figures of the General Department of Customs, in the first 3 months of 2024, the country exported nearly 499,786 tonnes of fertilizers of all kinds, equivalent to 207.79 million USD, the average price was 415.8 USD/tonne, an increase of 23. 4% in volume, 13.2% increase in turnover and 8.3% decrease in price compared to 2022.

In March of 2024 alone, 148,792 tonnes of fertilizers of all kinds were exported, reaching 62.77 million USD, priced at 421.9 USD/tonne, down by 13.4% in volume, down by 13.5% in turnover and down by 0.1% in price compared to February of 2024. In comparison to March of 2023, it increased by 17.5% in volume, increased by 14.9% in turnover but decreased by 2.2% in price.

Leading fertilizer export markets in March and the first 3 months of 2024

Vietnam's fertilizer exports were mainly to the Cambodian market, which alone accounted for over 20% of the country's total fertilizer export volume and turnover, reaching 103,510 tonnes, equivalent to 42.48 million USD, the average price was 410.4 USD/tonne, down by 1.9% in volume, down by 10.8% in turnover and price down by 9.1% compared to the same period of 2022. In March of 2024 alone, the exports to this market reached 35,893 tonnes, equivalent to 14.45 million USD, the average price was 402.6 USD/tonne, up by 20.7% in volume, up by 21.5% in turnover, and the price was up by 0.7% compared to February of 2024.

Behind the main market of Cambodia was the South Korean market with 68,947 tonnes, equivalent to 28.94 million USD, the average price wa 419.7 USD/tonne, an increase of 55.2% in volume, an increase of 72.6% in turnover and increased 11.2% in price, accounting for nearly 14% of the country's total fertilizer export volume and turnover.

The exports to the Philippine market reached 36,846 tonnes, equivalent to 17.61 million USD, average price was 477.9 USD/tonne, a sharp increase of 305.9% in volume, an increase of 197.9% in turnover but a decrease of 26.6% in price, accounting for 7.4% of total volume and 8.5% of total turnover.

The exports to the FTA RCEP markets reached 286,630 tonnes, equivalent to 119.44 million USD, up by 30.3% in volume and 23.8% in turnover. The exports to CPTTP FTA markets reached 46,000 tonnes, equivalent to 17.06 million USD, an increase of 44% in volume, an increase of 52.6% in turnover. Meanwhile, the exports to the Southeast Asian market reached 203,794 tonnes, equivalent to 84.39 million USD, up by 17.5% in volume and 7.2% in turnover.

Fertilizer imports in March and the first 3 months of 2024

In the first 3 months of 2024, the country's imported fertilizer volume reached over 1.12 million tonnes, worth nearly 351.9 million USD, the average price reached 314.2 USD/tonne.

According to preliminary statistics of the General Department of Customs, in March 2024 the country imported 428,853 tonnes of fertilizer, equivalent to 123.33 million USD, average price 287.6 USD/tonne, an increase of 52.3% in volume , increased 34.7% in turnover but decreased 11.6% in price compared to February 2024. Compared to March 2023, it increased by 47.2% in volume, increased by 9% in turnover but decreased by 26% in price.

Leading fertilizer import markets in March and the first 3 months of 2024

In March 2024, fertilizer imports from the main market China increased sharply by 43.9% in volume, 55.3% in turnover and 7.9% in price compared to February 2024, reaching 174,582 tonnes. , equivalent to 39.98 million USD, price 229 USD/tonne; Compared to March 2023, it increased by 21.3% in volume, but decreased by 20% in turnover and decreased by 34.2% in price. Imports from the Russian market in March 2024 decreased sharply by 59.8% in volume, 73.2% in turnover and 33.2% in price compared to February 2024, reaching 19,632 tonnes, equivalent to over 8,000 tonnes. 46 million USD, price 430.9 USD/tonne; Compared to March 2023, it increased by 11.2% in volume, but decreased by 17.9% in turnover and decreased by 26.2% in price.

In the first 3 months of 2024, the country's imported fertilizer volume reached over 1.12 million tonnes, worth of nearly 351.9 million USD, the average price reached 314.2 USD/tonne, an increase of 82.8% in volume, up by 48.2% in value but down by 18.9% in price compared to the first 3 months of 2023. China still led the fertilizer supply markets for Vietnam, accounting for 41.6% of the total volume and accounted for 29.6% of the country's total fertilizer import turnover, reaching 466,409 tonnes, equivalent to 104.16 million USD, the average price was 223.3 USD/tonne, an increase of 54.5% in volume, but down by 3.1% in turnover and down by 37.3% in price compared to the first 3 months of 2023.

The Russian market ranked second, accounting for 12.5% of the total volume and 23.8% of the total turnover, with 140,435 tonnes, equivalent to 83.81 million USD, the average price was 596.8 USD/tonne, an increase of 573% in volume, an increase of 574.6% in turnover and an increase of 0.2% in price compared to the first 3 months of 2023.

Fertilizer imports from the Southeast Asian market reached 133,811 tonnes, equivalent to 42.87 million USD, up 54.4% in volume, up by 16.2% in turnover over the same period last year, accounting for 12% of total volume and total turnover.

Fertilizer imports from the FTA RCEP market reached over 723,879 tonnes, equivalent to 171.58 million USD, an increase of 45.7% in volume, 0.14% in turnover over the same period, accounting for 64.6% of the total volume and accounting for 48.8% of the country's total fertilizer import turnover.

Fertilizer imports from the FTA CPTTP market reached 155,047 tonnes, equivalent to 32.72 million USD, an increase of 77.2% in volume, an increase of 143.5% in turnover over the same period last year, accounting for 13.8% of the total volume and accounting for 9.3% of the country's total fertilizer import turnover.  – Source: ASEM Connect –