VINACHEM

On June 14, the Market Life page of the Vietnam Valuation Association had an important summary of data on Vietnam’s fertilizer imports from Russia, while emphasizing the prestige and position of Russian fertilizers. on the world market.

According to preliminary statistics from the General Department of Customs, fertilizer imports of all kinds in May reached 386,856 tons, worth more than USD 122.8 million, up 25.7% in volume and 11.9% in metal. rate compared to the previous month.

Generally in the first 5 months of the year, Vietnam imported 1,288,936 tons of fertilizers of all kinds, worth more than 458.3 million USD, down 16.9% in volume and down 38.1% over the same period in 2022. .

Notably, in terms of the market alone, Russia is one of the suppliers that is increasing the export of fertilizers to Vietnam in the last 3 months.

Vietnam massively imports fertilizers from Russia

Specifically, fertilizer imports from Russia to Vietnam in May reached 35,805 tons with a value of 17.5 million USD, up 705% in volume and 476% in value compared to May 2022. increased sharply by 258% compared to April 2023 and increased by 103% compared to March 2023.

In general, in the first 5 months of the year, Vietnam spent more than 32.2 million USD importing all kinds of Russian fertilizers with more than 66,000 tons.

Previously, in 2022, Vietnam bought the most fertilizer from China with a proportion of 45%. Russia accounts for about 11.9% of Vietnam’s total fertilizer imports. Compared to 2021, the value of fertilizer imports from Russia has increased by 36.9%.

The world’s leading fertilizer producer

Not only oil and gas, weapons, grain products, metals, but fertilizer is still considered an important and most prestigious industry in the world of Russia.

Worth mentioning, before 1990, when the Soviet Union had not dissolved, Russia’s fertilizer production was higher than all other countries in the world.

Currently, Russia ranks 2nd in the world with potassium fertilizer output after Canada and is the largest fertilizer exporter in 2022, this item brought Russia 12.5 billion USD, accounting for 15.1% of the market. share of the entire market.

In particular, in terms of production alone, Russia’s production of phosphorus and nitrogen fertilizers ranks fourth in the world.

With production always in excess, Russia often exports this item to Eastern Europe.

In 2022, Russia’s fertilizer production reached nearly 23.5 million tons, down about 11% compared to 2021, potassium fertilizer production decreased by 32% while nitrogen and phosphate fertilizers both increased compared to 2021.

In 2022, after the conflict between Russia and Ukraine occurred, and at the same time, Western countries increased the imposition of sanctions on Russia, fertilizer products were exempted from sanctions to support security. food security, especially for poor countries.

As for the price of fertilizer, this item is fluctuating. Accordingly, in the last 50 years, world fertilizer prices have had three spikes, the first in 1973-1974 and the second in 2007-2008.

Russia’s move pushes fertilizer prices up, Vinachem sets a record of revenue

In the period of 2021 – 2022, the world will witness the third price increase of fertilizers with a sudden increase due to the price of natural gas (the main raw material for most nitrogen fertilizers, accounting for 70% to 90% of expenditures). production costs) increased suddenly, leading to a sharp increase in fertilizer prices, forcing many fertilizer factories to close.

Besides, the Russia-Ukraine conflict affects the global supply of nitrogenous fertilizers, leading to skyrocketing prices.

However, entering 2023, fertilizer prices have begun to decrease by 30-50% depending on the type compared to the end of last year. The main reason is that producers in Europe expand production thanks to lower raw material and fuel prices when natural gas and LNG imports are abundant.

Besides, the supply tends to increase again after China lifted the export ban, which also affected the price movements of fertilizers.  

As for Russian fertilizer, in the past year, Russian producers of this important commodity have increased exports to countries such as India, Turkey and Vietnam. 

 – vietnam.postsen.com –