| Fertilizer imports in August hit a more than 2-year high. In November 2023, fertilizer imports from China decreased by 4.9% |
According to preliminary statistics of the General Department of Customs, in December 2023, the country imported 446,560 tons of fertilizer, equivalent to 151.16 million USD, with an average price of 338.5 USD/ton, up 21.6% in volume, up 8.8% in turnover but down 10.5% in price compared to November 2023. Compared to December 2022, it increased by 53.8% in volume, but down 2.7% in turnover and down 36.7% in price.
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| According to the General Department of Customs, in 2023, Vietnam imported nearly 4.12 million tons of fertilizer. Photo: Photo: DPM |
In December 2023, fertilizer imports from the main market China increased slightly by 2.2% in volume, but decreased by 21.2% in turnover and 22.9% in price compared to November 2023, reaching 202,106 tons, equivalent to 62.54 million USD, priced at 309.4 USD/ton; compared to December 2022, it increased by 60.9% in volume, but decreased by 1.6% in turnover and 38.8% in price.
Imports from the Russian market in December 2023 increased sharply by 76.4% in volume, 60% in turnover but decreased by 9.3% in price compared to November 2023, reaching 56,489 tons, equivalent to over 23.5 million USD, price of 416 USD/ton; compared to December 2022, it decreased by 13.3% in volume, 50.4% in turnover and 42.8% in price.
In 2023, the total amount of imported fertilizers in the country reached nearly 4.12 million tons, worth over 1.41 billion USD, the average price reached 342.9 USD/ton, up 21.3% in volume, but down 12.8% in turnover and down 28% in price compared to 2022. China is still the leading fertilizer supplier to Vietnam, accounting for nearly 50% of the total volume and total import turnover of fertilizers in the country, reaching 2.4 million tons, equivalent to 662.46 million USD, the average price is 325.5 USD/ton, up 19% in volume, but down 9.3% in turnover and down 23.8% in price compared to 2022.
Next, the Russian market ranked second, accounting for 7% of the total volume and 9.4% of the total turnover, with 288,727 tons, equivalent to 132.12 million USD, the average price was 457.6 USD/ton, up 2.5% in volume, but down 35% in turnover and down 36.5% in price compared to 2022.
Fertilizer imports from the Southeast Asian market reached 470,755 tons, equivalent to 168.25 million USD, up 80.8% in volume, up 6.5% in turnover over the same period, accounting for 11.4% in total volume and 11.9% in total fertilizer import turnover of the country.
Fertilizer imports from the RCEP FTA market reached over 3 million tons, equivalent to 930.46 million USD, up 22% in volume, down 8% in turnover over the same period, accounting for 73% of the total volume and 65.9% of the total fertilizer import turnover of the country.
Fertilizer imports from the CPTPP FTA market reached 504,801 tons, equivalent to 87.36 million USD, up 0.4% in volume, down 41.3% in turnover over the same period, accounting for 12.3% in total volume and 6.2% in total fertilizer import turnover of the country.
In general, in 2023, fertilizer imports from most markets increased in volume but decreased in value compared to 2022.
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