Fertilizer imports reach two-year high in August
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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.
Questions & Answers
Q.What was the total volume and value of fertilizer imported by Vietnam in August?
What was the total volume and value of fertilizer imported by Vietnam in August?
In August, Vietnam imported over 472,283 tonnes of fertilizer. The total value of these imports for the month was $159 million, marking a significant increase from July figures.
Q.How did fertilizer import prices in August compare to the previous year?
How did fertilizer import prices in August compare to the previous year?
The average price of fertilizer in August was $338 per tonne. This represented a 26% decrease compared to prices from the previous year, despite an on-month increase of 19%.
Q.Which country is currently Vietnam's largest supplier of fertilizer?
Which country is currently Vietnam's largest supplier of fertilizer?
China is Vietnam's primary fertilizer provider so far this year. It accounts for about half of all imported fertilizer, supplying over 1.2 million tonnes valued at $375 million.
Q.What was the average price of imported fertilizer for the year up to the end of August?
What was the average price of imported fertilizer for the year up to the end of August?
Up to the end of August, the average price of imported fertilizer was estimated at $347 per tonne. This figure reflects a 25% reduction compared to the average price from the previous year.
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