Vietnam's fertilizer exports increase in both volume and value.

According to statistics from the General Department of Customs, in the first 8 months of 2024, the country exported nearly 1.17 million tons of various fertilizers, equivalent to over 478.69 million USD, with an average price of 410.8 USD/ton, up 5.9% in volume, up 6.4% in turnover and up 0.5% in price compared to the same period in 2023.

In August 2024 alone, 131,735 tons of various fertilizers were exported, reaching 58.51 million USD, at a price of 444.2 USD/ton, down 0.4% in volume, down 0.5% in turnover and down 0.14% in price compared to July 2024. Compared to August 2023, it also decreased by 16.7% in volume, down 0.6% in turnover but increased by 19.2% in price.

Vietnam's fertilizer exports increased in both volume and value. Photo: The Hai

Vietnam's fertilizers are mainly exported to the Cambodian market, which alone accounts for 31.6% of the total volume and 32% of the total fertilizer export turnover of the country, reaching 368,395 tons, equivalent to 153.12 million USD, with an average price of 415.7 USD/ton, down 8.4% in volume, down 8.7% in turnover and down 0.4% in price compared to the same period in 2023.

In August 2024 alone, exports to the Cambodian market reached 50,031 tons, equivalent to 20.78 million USD, with an average price of 415.4 USD/ton, down 27.2% in volume, down 31.4% in turnover, and down 5.7% in price compared to July 2024.

Fertilizer exports in the first 8 months of 2024. (Data from the General Department of Customs)

Following the main market of Cambodia is the Korean market with 123,029 tons, equivalent to nearly 51.07 million USD, average price of 415.1 USD/ton, up 151% in volume, up 181% in turnover and up 11.9% in price, accounting for nearly 11% of the total volume and total export turnover of fertilizers of the whole country.

Exports to the Malaysian market reached 84,910 tons, equivalent to 32.61 million USD, with an average price of 381 USD/ton, up 25.4% in volume, 45% in turnover and 15.6% in price, accounting for 7.3% in total volume and 6.8% in total turnover.

Information from Ca Mau Petroleum Fertilizer Joint Stock Company said that in August 2024, the company produced 45,610 tons of urea. The company's monthly urea consumption output reached 31,940 tons, of which 16,160 tons were exported. In August 2024, Ca Mau Fertilizer produced 9,690 tons, and the company's monthly NPK consumption output reached 2,370 tons.

Accumulated in the first 8 months of 2024, Ca Mau Fertilizer produced 634,560 tons of urea, completing 71% of the yearly plan. Urea consumption reached 527,560 tons, completing 70% of the 2024 plan.

Of which, Ca Mau Fertilizer's urea fertilizer export reached 209,690 tons, completing 93% of the plan for 2024. With this amount of exported fertilizer, Ca Mau Fertilizer contributed 17.9% of the total fertilizer export volume of Vietnam in the first 8 months of 2024. The production and consumption volume of NPK in the first 8 months of 2024 reached 119,540 tons and 80,180 tons, respectively, completing 66% and 44% of the yearly plan.

According to the Vietnam Fertilizer Association, the world urea market is expected to be more vibrant from the second half of this year when major consumers such as China, India, the US, Brazil and Europe return to bidding.

Dr. Phung Ha, Vice President and General Secretary of the Vietnam Fertilizer Association (FAV), said that Vietnam's fertilizer export proportion is increasing day by day. Two years ago, we exported less than 1 billion USD. Since 2022, we have had a breakthrough when exporting 1.7 billion USD due to some countries restricting fertilizer exports.

Meanwhile, the International Fertilizer Association (IFA) forecasts that global fertilizer consumption this year will increase by 4% compared to 2023, reaching 192.5 million tons.

Source: https://congthuong.vn/xuat-khau-phan-bon-cua-viet-nam-tang-ca-ve-luong-va-kim-ngach-347388.html