Cambodia imports more than 28% of Vietnam's fertilizer exports.

According to statistics from the General Department of Customs, in the first 6 months of 2024, the country exported 903,095 tons of various fertilizers, equivalent to 362.09 million USD, with an average price of 400.9 USD/ton, up 12.8% in volume, up 7.8% in turnover but down 4.4% in price compared to the same period in 2023.

In June 2024 alone, 172,985 tons of various fertilizers were exported, reaching 64.26 million USD, at a price of 371.5 USD/ton, a sharp increase of 77.8% in volume, 55.2% in turnover but a decrease of 12.7% in price compared to May 2024; Compared to June 2023, it also increased by 60.7% in volume, 37.6% in turnover but decreased by 14.1% in price.

Cambodia imports more than 28% of Vietnam's fertilizer exports.

Vietnam's fertilizers are mainly exported to the Cambodian market, which alone accounts for 27.7% of the total volume and 28.2% of the total fertilizer export turnover of the country, reaching 250,019 tons, equivalent to 102.23 million USD, with an average price of 408.9 USD/ton, down 14% in volume, down 16.5% in turnover and down 2.9% in price compared to the same period in 2023.

In June 2024 alone, exports to this market reached 61,227 tons, equivalent to 25.75 million USD, with an average price of 420.6 USD/ton, up 43% in volume, up 50.7% in turnover, and up 5.4% in price compared to May 2024.

Following the main market of Cambodia is the Korean market with 95,667 tons, equivalent to over 39.53 million USD, average price of 413.2 USD/ton, up 98.9% in volume, up 122.8% in turnover and up 12% in price, accounting for nearly 11% of the total volume and total export turnover of fertilizers of the whole country.

Source: Vinanet/VITIC

Exports to the Malaysian market reached 60,295 tons, equivalent to 21.61 million USD, with an average price of 358.4 USD/ton, up 23.5% in volume, 34.5% in turnover and 8.9% in price, accounting for 6.7% in total volume and 6% in total turnover.

Forecasts for the global urea market are expected to be more vibrant from the second half of 2024, when major consumers such as China, India, the US, Brazil and Europe simultaneously return to bidding to ensure fertilizer supply for the upcoming summer-autumn crop sowing peak period.

Experts at Mirae Asset Securities Vietnam (MASVN) predict that 2024 will be the year when businesses in the fertilizer and chemical industry will have a strong breakthrough in revenue and profit. Urea prices increased by 11% in the first quarter and may continue to increase in the following months, due to the impact of limited supply from Russia and China.

Source: https://congthuong.vn/campuchia-nhap-hon-28-luong-phan-bon-xuat-khau-cua-viet-nam-331957.html