Fertilizer exports hit an all-time record high

According to the General Department of Customs, in 2021 Vietnam exported over 1.35 million tons of fertilizer, earning USD 559.35 million, up 16.4% in volume and 64.2% in turnover compared to 2020. This concluded an all-time record high in fertilizers exported last year.

Cambodia is Vietnam's largest fertilizer market, accounting for 40.2% of the total volume and 37.4% of the country's total fertilizer export turnover. Fertilizer exports to Cambodia reached 544,443 tons, equivalent to over USD 209.18 million, up 29.2% in volume and 59% in turnover compared to the figures in 2020.

Vietnam's second largest fertilizer market (in terms of value) is South Korea. Vietnam exports 97,789 tons of fertilizer to the South Korean market in 2021 which amounted to USD 70.84 million with an average price of USD 724.4/ton. This resulted in a spectacular increase of 379% in volume, 2,001% in turnover and 338.7% in price in comparison to the previous year.

Fertilizer exports to the Malaysian market in 2021 reached 106,917 tons, worth USD 36.16 million, up 14.3% in volume and 97.6% in turnover.

Fertilizer exports to the Philippines market reached 61,385 tons, valued at USD 26.03 million, up 242.4% in volume and 401.6% in turnover compared to 2020.