Source: congthuong.vn
According to preliminary statistics of the General Department of Customs, in March 2023, the whole country imported 291,402 tons fertilizer, equivalent to 113.2 million USD, the average price was 388.5 USD/ton, up 59.6% in volume, 67.7% in turnover and 5% in price compared to February 2023. Compared to March 2022, the decrease in volume, turnover and price was 13.3%, 27.7% and 16.6% respectively.
| Fertilizer imports in the first quarter of 2023 decreased by 46.2% in turnover |
In March 2023 fertilizer import from the main market China increased 63% in volume, increased 56.9% in turnover, but decreased by 3.7% in price compared to February 2023, reaching 143,876 tons, equivalent to 50.05 million USD, priced at 347 ,8 USD/ton; Compared to March 2022, it increased by 4.4% in volume, but decreased by 5% in turnover and decreased by 9% in price. Imports from the Korean market in March 2023 fell sharply by 64.7% in volume, 74.6% in turnover and 28.2% in price compared to February 2023, reaching 5,678 tons, equivalent to over 3.18 million USD, price 560.8 USD/ton; compared with March 2022, it increased strongly by 75.3% in volume, 140% in turnover and 37% in price.
Generally, in the first quarter of 2023, the country’s fertilizer imports reached 612,900 tons, worth over $237.52 million, the average price was $387.5/ton, down 34% in volume, down 46.2 % in turnover and down 18.5% in price compared to the first quarter of 2022.
In terms of supply, China is still the leading fertilizer supplier to Vietnam, accounting for 49.3% of the total volume and 45.2% of the country’s total fertilizer import turnover. Fertilizer imports from this market reached 301,969 tons, equivalent to 107.46 million USD, the average price was 355.9 USD/ton, down 16.7% in volume, down 26% in turnover and down 11.3% price compared to the first quarter of 2022.
Next to the Korean market ranked second, accounting for 5% of the total volume and 7.9% of the total turnover, with 30,957 tons, equivalent to USD 18.74 million, the average price of USD 605.5/ton, down 21.3% in volume, down 17% in turnover but up 5.5% in price compared to the first quarter of 2022.
Fertilizer imports from the Southeast Asian market reached 88,662 tons, equivalent to 36.89 million USD, up 30% in volume, down 8.4% in turnover over the same period, accounting for 14% of the total volume and accounting for 15 5% of the total fertilizer import turnover of the country.
Fertilizers imported from the FTA CPTTP market reached 87,506 tons, equivalent to 13.44 million USD, down 50% in volume, down 77.3% in turnover over the same period, accounting for 14.3% of the total volume and accounting for 5 .7% of the total fertilizer import turnover of the country.
Fertilizer imports from the RCEP FTA market reached 496,983 tons, equivalent to 171.34 million USD, down 15.7% in volume, down 26.6% in turnover over the same period, accounting for 81% of the total volume and accounting for 73 % of the total fertilizer import turnover of the country.
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Fertilizer imports in the first quarter of 2023 – calculated from published data of the General Department of Customs |
In general, in the first quarter of 2023, fertilizer imports from most markets decreased in both volume and turnover compared to the first quarter of 2022.
The first quarter of 2023 also recorded a decrease in Vietnam’s fertilizer exports by 40.2% in turnover. In general, in the first months of 2023, the fertilizer market is quiet, fertilizer prices are low. Both import and export activities of fertilizers were quiet. Fertilizer production enterprises face difficulties and inventories are high. Meanwhile, recorded at this time of 2022, fertilizer prices are high, fertilizer import and export activities are bustling, businesses record large profits.
Therefore, the evaluation of fertilizer market In the first quarter and the whole year of 2023, experts say that this is a year that the fertilizer industry faces a lot more difficulties than in 2021 and 2022.
