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Tuesday, June 25, 2024

Vietnam’s fertilizer imports slip in 2023

The Saigon Times

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HCMC – Vietnam’s fertilizer imports in 2023 dropped by 12.8% to US$1.41 billion even though the import volume soared by 21.3% to 4.12 million tons.

Preliminary data from the General Department of Vietnam Customs showed that the country imported 446,560 tons of fertilizer valued at US$151.16 million in December alone, rising by 21.6% in quantity but declining by 10.5% in value compared to the previous month.

China continued to hold the top position as Vietnam’s primary supplier of fertilizer in 2023, contributing to nearly half of Vietnam’s total fertilizer imports, which amounted to 2.4 million tons worth US$662.46 million. These figures represented a 19% year-on-year increase in import volume but a 9.3% dip in value.

Securing the second position, Russia accounted for 7% of the total volume and 9.4% of the value, with 288,727 tons valued at US$132.12 million.

On the other hand, fertilizer imports from Southeast Asia, particularly from members of the Regional Comprehensive Economic Partnership (RCEP), reached 470,755 tons valued at US$168.2 million. This indicated an 80.8% surge in quantity and a 6.5% rise in value compared to 2022.

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