Vinacam Group, Hai Phong TGO Goods, and Gia Vu Fertilizer are among the names that top the list of Vietnam’s top fertilizer importing companies in 11 months of 2021.
VIETNAM’S FERTILIZER MARKET IN 11 MONTHS OF 2021
In general, Vietnam’s fertilizer exports in the first 11 months of 2021 to major markets increased in both volume and value compared to the first 11 months of 2020.
According to statistics from the General Department of Customs, Vietnam's fertilizer exports in November 2021 reached 124.3 thousand tons, with a turnover of 71.3 million USD, up 58.5% in volume and 120.9% in turnover compared to October 2021; and increased by 125.5% in volume and 328.6% in turnover compared to November 2020.
In the first 11 months of 2021, Vietnam's fertilizer exports reached 890.5 thousand tons with a turnover of 341.4 million USD, up 39.3% in volume and 82.3% in turnover compared to the same period last year.
The average export price of fertilizers of all kinds in the first 11 months of 2021 reached 383.4 USD/ton, up 30.9% over the same period in 2020.
In the first 11 months of 2021, Vietnam mainly exports fertilizers to Cambodia, accounting for 56.9% of total fertilizer exports. Fertilizer exports to this market increased by 34.5% in volume and 63.6% in turnover over the same period last year.
Fertilizer exports to many markets such as Mozambique, the Philippines, Korea, Taiwan, etc., increased in the first 11 months of 2021. Meanwhile, fertilizer exports to some markets decreased. For example, compared to the same period in 2020, fertilizer export to Myanmar was down 68.2% in volume and 54.9% in turnover, to Thailand was down 39.2% in volume and 4.7% in turnover, etc.
ImportAccording to statistics from the General Department of Customs, fertilizer imports of all kinds in November 2021 reached 376.6 thousand tons, turnover was 152.8 million USD, up 8.6% in volume and 12.2% in turnover compared to October 2021; up 35.3% in volume and 116.0% in turnover compared to November 2020. Generally, in the first 11 months of 2021, fertilizer imports of all kinds reached 3.99 million tons, with a turnover of 1.23 billion USD, up 23.5% in volume and 55.7% in turnover over the same period last year.
The average import price of fertilizers of all kinds of Vietnam in the first 11 months of 2021 reached 308.1 USD/ton, up 26.0% over the same period in 2020.
China is the market that supplies all kinds of fertilizers to Vietnam in the first 11 months of 2021, with imports reaching 1.85 million tons, turnover of 545.8 million USD, up 27.7% in volume and 62.5% in turnover over the same period in 2020.
In addition, Vietnam also imported a lot of fertilizers from Russia, Japan, Israel, Belarus with the import volume of 332.7 thousand tons, 284.3 thousand tons, 249.3 thousand tons, and 235,7 thousand tons, respectively.
Fertilizer imports in November 2021 increased sharply compared to the previous month, and for the whole 11 months of 2021, imports from most markets increased sharply compared to the same period in 2020.
VIETNAM’S TOP 10 FERTILIZER IMPORTING COMPANIES
(Eleven months of 2021)
FERTILIZER PRICES WILL STAY HIGH UNTIL MID-2022
World fertilizer prices increased in November 2021 thanks to increasingly strong demand. Compared to the same period last year, the prices of most fertilizers have risen sharply, of which the highest increase is the price of anhydrous fertilizer, which increased by 175%, and of UAN28 by 172%.
Since world agricultural production recovered, fertilizer demand increased in Europe, the US, Brazil, and some Asian countries. Along with that, the prices of all kinds of raw materials and input fuels for fertilizer production have increased sharply in recent years, leading to an increase in prices. Transportation costs in the country and the world, especially shipping charges, also increased sharply, causing the prices of most fertilizers to rise to record levels.
The prices of food and animal feed staying at a high level have spurred the agricultural industry to increase production, which leads to an increase in fertilizer demand. Fertilizer prices are also driven by rising energy costs, supply cuts, and countries' trade policies.
Since a series of major fertilizer exporting countries in the world simultaneously restricted exports, the world fertilizer price is predicted to continue at a record high level in the first half of 2022, which is expected to have an impact on the price of fertilizer in Vietnam.
Source: The Ministry of Industry and Trade
Compiled by VietnamCredit