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According to the latest statistics of the General Department of Customs, from the beginning of the year to June 15, fertilizer exports reached 615,710 tons, equivalent to USD 212,867 million, up nearly 50% in volume and up 1 76 times in value. This is the first time in history that fertilizer exports have reached such a record high number.
The export price of fertilizer in May increased by 14% compared to May 2020, reaching an average of 342.3 USD/ton. Generally in the first 5 months of this year, export prices also increased by nearly 11% over the same period in 2020, reaching 322 USD/ton.
Fertilizers of Vietnam are mainly exported to markets such as Cambodia (about 214,136 tons); Malaysia (about 41,293 tons); Laos (24,330 tons)… Notably, exports to the Philippines and Mozambique markets, although the turnover is not large, but compared to the same period last year increased strongly.
In the world market, fertilizer prices are increasing sharply. For example, in June, in China, urea price is currently trading around 435 - 445 USD/ton; Middle East 450 - 460 USD/ton.
In Southeast Asia, the bid price for potash is currently $400/ton CFR (cost plus freight) for standard flour. In North West Europe potassium increased to 430 - 450 USD/ton CFR; Brazil is 500 - 550 USD/ton CFR.
In the country, from the beginning of April until now, the fertilizer price has increased continuously. The price of raw materials for fertilizer production and the world price of fertilizer for the production of synthetic fertilizers in June also increased sharply compared to December 2020. Specifically, urea nitrogen increased by 62%, DAP increased by over 54%, Potassium increased by 45%, Ammonia increased by 60%. Many opinions believe that businesses
Talking to Tien Phong, Mr. Hoang Trung, Director of the Plant Protection Department (Ministry of Agriculture and Rural Development) said that in the first 5 months of the year, Vietnam's fertilizer production increased by 5% compared to the previous year. same period last year, while the demand for fertilizer did not increase.
Before the domestic price skyrocketed, the Department had a meeting with large enterprises to propose to suspend exports to serve the domestic market. According to Mr. Trung, up to now, enterprises have basically started to stop exporting activities.
