Fertilizer imports reached over three million tons in eight months

According to the General Department of Customs, as of August 2021, the whole country has imported 3.16 million tons of fertilizers of all kinds, equivalent to USD 909.34 million, with an average price of USD 287.6/ton, an increase of  20.7% in volume, 40.7% in turnover and 16.6% in price compared to the first eight months of 2020.

The fertilizers imported to Vietnam mostly come from China. In the past eight months, fertilizer imports from China reached 1.45 million tons, equivalent to USD 398.65 million, up 35.4% in volume, 65.4% in value over the same period in the previous year. Fertilizers imported from China accounted for 45.7% of the total volume and 43.8% of Vietnam's total fertilizer import turnover.

The Russian market is right behind the Chinese market. For the whole eight months of 2021, fertilizer imports from Russia reached 250,907 tons, equivalent to USD 82.61 million, accounting for 7.9% of the total volume and 9.1% of the total fertilizer import turnover of the whole country.

On the other hand, fertilizer imports from the Indonesian market in the first eight months of 2021 have also increased sharply, up 416% in volume, 686% in turnover in comparison to the same period in 2020, reaching 192,207 tons, equivalent to USD 75.81 million, accounting for 6% of the total volume and 8% of the total turnover.

In general, fertilizer imports in August 2021 seems to have experienced a slight decrease compared to the previous months, however, in consideration to the first eight months of 2020, fertilizer imports of the first eight months of this year from all market have shown signs of increase.