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Tag: Fertilizer

  • Fertilizer prices surge after China imposes export ban

    Fertilizer prices surge after China imposes export ban

    Urea prices have risen by 10% in September and 30% since July after China banned the export of the fertilizer to keep domestic prices under control.

    Petrovietnam Camau Fertilizer raised urea prices by 10% this month to VND11,200 per kilogram.

    Petrovietnam Fertilizer and Chemicals Corp hiked prices by 4.8% to VND11,000.

    Other chemical producers also effected similar hikes. Some such as HCMC-based Viet Au have raised prices to VND12,500.

    Urea provides plants with nitrogen to stimulate leaf growth.

    Phung Ha, deputy chairman of the Vietnam Fertilizer Association, said China, the biggest producer and consumer of urea globally, ordered some manufacturers earlier this month to stop exports and this caused prices of the key fertilizer to surge globally including in Vietnam.

    Vietnamese farmers are buying fertilizers for their winter-spring crops, and the rising demand is exacerbating the rise in prices.

    In the first eight months of the year, Vietnam imported nearly 2.5 million tons of fertilizers worth US$833 million, up 13% in volume but down 19% in value year-on-year.

    Nearly half of the imports came from China.

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  • Fertilizer imports reach two-year high in August

    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.

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  • Fertilizer imports from Russia rise by 60 percent

    Fertilizer imports from Russia rise by 60 percent

    Vietnam imported US$86.8 million worth of fertilizer from Russia in the first five months, up 60 percent year-on-year.

    Russia accounted for nearly a 10th of Vietnam’s total fertilizer imports at 180,000 tons, second only to China, which accounted for nearly 40 percent, according to data from the Ministry of Agriculture and Rural Development.

    Bui Minh Truong, chairman of Swissfertz Vietnam, a leading NPK fertilizer importer from Russia, said Vietnam could import 300,000-400,000 tons a year from the European country if transportation becomes easier.

    Then, fertilizer prices would drop in Vietnam, reducing the burden on farmers and consumers, he added.

    The Russian consul general in HCMC, Timur Sadykov, said trade between the two countries, which grew by 26 percent in the first half of this year, would have more favorable terms in the second.

    “Russia and Vietnam have just launched a maritime trade route between Vladivostok and Hai Phong, and the two are negotiating a railway route via China.”

    Fertilizer prices have fallen in Vietnam recently due to lower global prices and demand since it is the harvest season.

    There is a high chance prices would go back up when the cropping season begins, besides which the prices of coal and gas, the two main materials for fertilizer production, have shown signs of rising.

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