Fertilizer exports see strong growth
According to the General Department of Vietnam Customs, major markets of Vietnam’s fertiliser in the first 10 months of this year were Cambodia, Malaysia and the Republic of Korea. Cambodia was the leading market that bought 69.5% of Vietnam’s total fertilizer for export, or 328,600 tonnes worth US$104.9 million, up 53.87% in volume and 54.7% in value compared to 2016.
Meanwhile, Malaysia imported 122,500 tonnes, and the Republic of Korea bought 55,900 tonnes, up 105.42% and 57.72% respectively.
Other markets of Vietnamese fertilizer included Laos, the Philippines, Thailand, Japan and Angola.
Despite the strong growth in export, Vietnam still spends hundreds of millions of US dollar to import fertilizer.
The Ministry of Agriculture and Rural Development (MARD) reported that Vietnam imported 4.27 million tonnes of the product in 11 months at the cost of US$1.14 billion, up 15.5% in volume and 13.3% in value year on year.
China is the biggest source of 39.9% of total fertilizer shipped to Vietnam with 1.5 million tonnes worth US$392.1 million. The second largest fertilizer provider of Vietnam was Russia with 454,700 tonnes, followed by Belarus with 230,800 tonnes.
Other fertilizer exporters to Vietnam are Japan, Indonesia, Laos, Malaysia, Saudi Arabia and the Philippines.
Explaining the rise in fertilizer import, Nguyen Duc Thanh, Vice President of the Fertilizer Association of Vietnam and CEO of the Petro Vietnam Ca Mau Fertilizer JSC said that not all fertilizers Vietnam bought were use for domestic use, but for NPK fertilizer production or exporting to Cambodia.
Related News
An Giang Customs issues many notes to help businesses improve compliance
09:29 | 20/12/2024 Customs
Total import-export turnover reaches US$715.55 billion in 11 months
10:23 | 13/12/2024 Import-Export
Preliminary assessment of Vietnam international merchandise trade performance in the first half of November, 2024
09:40 | 12/12/2024 Customs Statistics
Latest News
Seafood exports expected to exceed $10 billion in 2025: expert
20:28 | 21/12/2024 Import-Export
Top 10 Reputable Animal Feed Companies in 2024: Efforts to survive the challenges of nature
18:30 | 21/12/2024 Import-Export
Vietnam's import-export surges 15.3%
09:44 | 20/12/2024 Import-Export
More Vietnamese firms interested in Saudi Arabia: Ambassador
09:43 | 20/12/2024 Import-Export
More News
“Give and Take” in the Value Chain of the CPTPP Market
09:30 | 20/12/2024 Import-Export
Binh Dinh province works to attract investment from Japan
15:44 | 19/12/2024 Import-Export
Agricultural, forestry and fishery exports “reach the target” early
15:20 | 19/12/2024 Import-Export
Thailand remains Vietnam’s biggest trading partner in ASEAN
15:35 | 18/12/2024 Import-Export
Rubber value soars in 2024: VRA
15:33 | 18/12/2024 Import-Export
Vietnamese businesses struggle to access green finance
09:58 | 18/12/2024 Import-Export
E-commerce: a gateway to boost Vietnamese commodities in the UK market
16:55 | 17/12/2024 Import-Export
Agro-forestry-fisheries exports top 62 billion USD in 2024
16:51 | 17/12/2024 Import-Export
Removing “bottlenecks” for digital transformation in industrial production
10:00 | 17/12/2024 Import-Export
Your care
Seafood exports expected to exceed $10 billion in 2025: expert
20:28 | 21/12/2024 Import-Export
Top 10 Reputable Animal Feed Companies in 2024: Efforts to survive the challenges of nature
18:30 | 21/12/2024 Import-Export
Vietnam's import-export surges 15.3%
09:44 | 20/12/2024 Import-Export
More Vietnamese firms interested in Saudi Arabia: Ambassador
09:43 | 20/12/2024 Import-Export
“Give and Take” in the Value Chain of the CPTPP Market
09:30 | 20/12/2024 Import-Export