Fertilizer imports return to USD 1 billion landmark

According to the General Department of Vietnam Customs, fertilizer imports into Vietnam in the first ten months of this year totaled 3.8 million tons with a value of USD 1.15 billion, a year-on-year increase of 20.4 percent in volume and 46.8 percent in value.

Thus, in just ten months, fertilizer import turnover surpassed the previous year's total of USD 925 million and returned to USD 1 billion after a year away from this landmark.

Vietnam imports the majority of fertilizer from the Chinese market. Between January and October 2021, imports from China totaled 1.7 million tons, valued at USD 490.31 million, an increase of 28.9 percent and 63.7 percent respectively over the same period in 2020. Fertilizers imported from China accounted for 44.6% of total volume and 42.7 percent of total fertilizer import turnover in the entire country.

Fertilizer imports from Southeast Asia were 429,531 tons, valued at USD 151.21 million, increasing 42.8 percent in volume and 108.8 percent in value over the previous ten months. This is Vietnam's second-largest importer of fertilizer, accounting for 13.18 percent of overall import turnover.

The Russian market is in the third position with 329,307 tons worth USD 112.91 million, up 12 percent in volume and 22.5 percent in revenue during the first ten months of 2020, accounting for 9.84 percent of overall revenue.