Fertilizer exports see strong growth

21:20 | 12/12/2017 Import-Export Follow english.haiquanonline.com.vn on

From a fertilizer importer, Vietnam has become an exporter of the product with 892,000 tonnes shipped abroad in 11 months of this year for 277 million USD a year on year increase of 34 5 percent in volume and 43 percent in value.

According to the General Department of Vietnam Customs, major markets of Vietnam’s fertiliser in the first 10 months of this year were Cambodia, Malaysia and the Republic of Korea. Cambodia was the leading market that bought 69.5% of Vietnam’s total fertilizer for export, or 328,600 tonnes worth US$104.9 million, up 53.87% in volume and 54.7% in value compared to 2016.

fertilizer exports see strong growth 5442

Meanwhile, Malaysia imported 122,500 tonnes, and the Republic of Korea bought 55,900 tonnes, up 105.42% and 57.72% respectively.

Other markets of Vietnamese fertilizer included Laos, the Philippines, Thailand, Japan and Angola.

Despite the strong growth in export, Vietnam still spends hundreds of millions of US dollar to import fertilizer.

The Ministry of Agriculture and Rural Development (MARD) reported that Vietnam imported 4.27 million tonnes of the product in 11 months at the cost of US$1.14 billion, up 15.5% in volume and 13.3% in value year on year.

China is the biggest source of 39.9% of total fertilizer shipped to Vietnam with 1.5 million tonnes worth US$392.1 million. The second largest fertilizer provider of Vietnam was Russia with 454,700 tonnes, followed by Belarus with 230,800 tonnes.

Other fertilizer exporters to Vietnam are Japan, Indonesia, Laos, Malaysia, Saudi Arabia and the Philippines.

Explaining the rise in fertilizer import, Nguyen Duc Thanh, Vice President of the Fertilizer Association of Vietnam and CEO of the Petro Vietnam Ca Mau Fertilizer JSC said that not all fertilizers Vietnam bought were use for domestic use, but for NPK fertilizer production or exporting to Cambodia.

Source: VNA

Tags:

Related News

Import and export turnover across Cao Bang prospers but still exists difficulties

10:25 | 05/04/2023 Import-Export

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.

Exploiting potential markets to increase coffee export space

11:40 | 01/04/2023 Import-Export

VCN - Vietnam's coffee industry has gradually affirmed its position when exports for the first time exceeded the USD 4 billion mark in the past year. The results of the first two months of 2023 show that coffee exports have many positives, especially in some markets.

Cashew industry strives to "get on the shelves of world supermarkets"

10:24 | 05/04/2023 Import-Export

VCN - Although holding the number one position in the world in exporting cashew kernels for many years, the position of Vietnam's cashew industry in the world cashew value chain is very small because it mainly exports kernels with preliminary treatment.

Import and export turnover in major markets plunges

13:45 | 31/03/2023 Import-Export

VCN – Over the first two months of the year, the total trade in goods saw a year-on-year decline. This is abnormal compared with the high growth in recent years.

Latest News

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

14:01 | 06/04/2023 Import-Export

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.

Mong Cai international border gate sees strong recovery

16:15 | 05/04/2023 Import-Export

The Mong Cai international border gate in the northern province of Quang Ninh has become vibrant as before the pandemic, showing a positive sign in the economic recovery of Mong Cai city in particular and Quang Ninh province in general.

Vietnam a potential market for French businesses, investors: experts

16:12 | 05/04/2023 Import-Export

French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.

HCM City’s industrial production index down 0.9% in Q1

14:47 | 04/04/2023 Import-Export

Ho Chi Minh City’s Index of Industrial Production (IIP) in the first quarter of 2023 declined by 0.9% compared to the same period last year, the municipal Department of Industry and Trade reported at a press conference on April 3.

More News

Fisheries exports estimated at 1.85 billion USD in Q1

14:45 | 04/04/2023 Import-Export

Fisheries export value was estimated at 1.85 billion USD in the first quarter (Q1) of this year, a fall of 27% compared to the same period last year due to lower consumption and import demand under the impacts of inflation and economic recession, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Quang Ninh aims to attract quality FDI inflows

14:43 | 04/04/2023 Import-Export

The northern coastal province of Quang Ninh has strengthened measures to attract quality foreign direct investment (FDI) inflows, especially from big names in the processing-manufacturing industry.

Exports face many difficulties

13:29 | 04/04/2023 Import-Export

VCN - In the first months of 2023, the absence of export orders plus the downward trend in commodity prices have slowed down trade activities.

Manufacturing enterprises increase their competitiveness thanks to digital transformation

13:28 | 04/04/2023 Import-Export

VCN - Overcoming difficulties in 2023 requires manufacturing enterprises to self-improve and innovate. Digital technology is one of the effective solutions to help manufacturing businesses grow and compete.

32nd Việt Nam Expo promises to boost business linkages

14:19 | 03/04/2023 Import-Export

The 32nd Việt Nam International Exhibition (Vietnam Expo) will take place in Hà Nội from April 5-8 with the participation of more than 500 domestic and foreign enterprieses, the event’s organisers have announced.

Prevention of price risks before news that Indonesia increases rice imports in reserve

09:52 | 03/04/2023 Import-Export

VCN - In response to demand signals from key markets such as Indonesia and the Philippines, the Import-Export Department (Ministry of Industry and Trade) suggested that rice exporters actively monitor the market situation and fully assess the opportunities as well as risks to build a trading plan.

Japanese investors highly appreciate Vietnamese property market

17:41 | 02/04/2023 Import-Export

Representatives from around 180 Japanese businesses and investors on April 1 attended a Tokyo workshop on Vietnamese real estate, during which many of them highly appreciated the potential of Vietnam’s property market.

Seafood enterprises propose to remove obstacles from exporting to the EU

10:34 | 02/04/2023 Import-Export

VCN - Seafood enterprises are facing inadequacies in applying for material certification (S/C) and food safety certificates (H/C), which affects the production and export of seafood to the EU.

Need to effectively use tools to prevent exchange rate risks in import and export field

10:32 | 02/04/2023 Import-Export

VCN - The exchange rate pressure in 2023 is expected to be weaker than last year, especially in the context of tightening monetary policies reaching the final phase. However, fluctuations in the economy and financial markets are still very unpredictable, and exchange rate developments may affect import and export activities.

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read