Fertilizer imports reach two-year high in August

According to the General Department of Customs, Vietnam’s fertilizer import volume reached the highest in more than two years in August, while prices fell over the previous year.

In August, Vietnam imported more than 472,283 tonnes of fertilizer worth $159 million, up 54% over July in volume and 85% in value. This was the highest import volume since July 2021.

The fertilizer prices reached $338 a tonne last month, up 19% on-month, but down 26% year-on-year.

Ending August, fertilizer imports rose 13% to 2.5 million tonnes, but the import value fell 19% year-on-year to $833 million.

The average price of imported fertilizer was estimated at $347 per tonne, a 25% decrease from last year.

China is the country’s biggest fertilizer provider so far this year, accounting for roughly half of all imported fertilizer with more than 1.2 million tonnes, valued at $375 million, up 15% on-year in volume and 14% in value.

It was followed by Japan, with more than 225,000 tonnes of imported fertilizer and worth $21 million.