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Fertilizer exports see strong growth

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.
Fertilizer exports see strong growth ảnh 1Illustrative photo (Source: VNA)

Hanoi(VNA) – From a fertilizer importer, Vietnam has become an exporter of theproduct, with 892,000 tonnes shipped abroad in 11 months of this year for 277million USD, a year on year increase of 34.5 percent in volume and 43 percentin value.

According to theGeneral Department of Vietnam Customs, major markets of Vietnam’s fertiliser inthe first 10 months of this year were Cambodia, Malaysia and the Republic ofKorea. Cambodia was the leading market that bought 69.5 percent of Vietnam’stotal fertilizer for export, or 328,600 tonnes worth 104.9 million USD, up53.87 percent in volume and 54.7 percent in value compared to 2016.

Meanwhile, Malaysiaimported 122,500 tonnes, and the Republic of Korea bought 55,900 tonnes, up 105.42percent and 57.72 percent respectively.

Other markets ofVietnamese fertilizer included Laos, the Philippines, Thailand, Japan andAngola.

Despite the stronggrowth in export, Vietnam still spends hundreds of millions of USD to importfertilizer.

The Ministry ofAgriculture and Rural Development (MARD) reported that Vietnam imported 4.27million tonnes of the product in 11 months at the cost of 1.14 billion USD, up15.5 percent in volume and 13.3 percent in value year on year.

China is the biggestsource of 39.9 percent of total fertilizer shipped to Vietnam with 1.5 milliontonnes worth 392.1 million USD. The second largest fertilizer provider ofVietnam was Russia with 454,700 tonnes, followed by Belarus with 230,800tonnes.

Other fertilizerexporters to Vietnam are Japan, Indonesia, Laos, Malaysia, Saudi Arabia and thePhilippines.

Explaining the rise infertilizer import, Nguyen Duc Thanh, Vice President of the FertilizerAssociation of Vietnam and CEO of the Petro Vietnam Ca Mau Fertilizer JSC saidthat not all fertilizers Vietnam bought were use for domestic use, but for NPKfertilizer production or exporting to Cambodia.-VNA 
VNA
#fertilizer #Fertilizer exports #NPK fertilizer #Fertilizer Association of Vietnam #Petro Vietnam Ca Mau Fertilizer JSC #fertilizer provider #Vietnamese fertilizer #Vietnam #Vietnam news #Vietnam News Agency
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