First half fertiliser export revenue exceeds 2021’s figure

Illustrative image (Source: VNA)

In the first six months of 2022, fertiliser export turnover surpassed the figure posted for the whole of 2021.

Per statistics from the General Department of Vietnam Customs, Vietnam shipped 998,000 tonnes of fertiliser overseas for 647 million USD, up 43% in quantity and 2.8 times in value year-on-year.

In 2021, the nation exported 1.4 million tonnes and reeled in 559 million USD.

These increases were attributed to domestic businesses taking advantage of market opportunities to boost sales at a time when the global fertiliser supplies were scarce and prices skyrocketed.

With an average price of 646 USD per tonne, fertiliser export price in the period also recorded an increase of 1.8 times compared to the same period last year.

Meanwhile, the Ministry of Agriculture and Rural Development said the nation imported 1.8 million tonnes of fertiliser worth 856 million USD between January and June, down 22.5% in volume but up 32.3% in value annually.

Notably, imports from Russia soared to hit 86.8 million USD in the first five months, increasing by 59% against 2021. It was followed by China at 27.7%./.