Vietnam spent over US$1.02 billion on importing 2.19 million tonnes of fertiliser during the initial eight months of the year, a decline of roughly 30.9% in volume but up 12.2% in value from 2021.

 

The average price stood at US$467 per tonne, an annual rise of 62.4%.

 

According to the General Department of Vietnam Customs, August alone witnessed the country import 246,015 tonnes of fertiliser, worth US$112.53 million.

 

The average price stood at US$457.4 per tonne, with the figures increasing by 45.8%, 68.3%, and 15.4% in volume, turnover, and price compared with July.

 

During the January to August period, the country mainly purchased fertilisers from China, with 1.06 million tonnes worth US$434.27 million, duly accounting for 48.2% and 42.4% of the country's total import volume and turnover, respectively.

 

In comparison to the same period from last year, the volume endured a decline of 26.9%, although the turnover was up 9%.

 

The average price of fertiliser imports from the Chinese market was US$411.2 per tonne over the reviewed period, increasing sharply by 49% from 2021.

 

The Russian market ranked second, accounting for 6.9% of the total volume and 9.6% of the turnover, with 150,457 tonnes, equivalent to US$97.72 million.

 

Indeed, the average price was US$649.5 per tonne, down by 42.3% in volume, but up by 14.5% in turnover and soaring by 98.3% in price compared to the first eight months of last year.

 

Source: VOV