Fertilizer exports increased by 166%, about to exceed 1 billion USD

Fertilizer export is one of the fields that still maintain a high growth rate and will record a new record when it crosses the $1 billion mark for the first time.

According to the General Department of Customs, by the end of the third quarter of 2022, fertilizer exports reached nearly 1.4 million tons, equivalent to USD 886 million, up 45% in volume and 166% in value over the same period last year. 2021. Exporting fertilizers of all kinds to the following markets: ASEAN with 836,000 tons, up 20%; Indian market with 255,000 tons, nearly 12 times higher; Korea with 85,000 tons, 3.6 times more…

Fertilizer exports in 9 months of 2022 are equivalent to the whole year of 2021

According to many businesses, this year’s fertilizer export has grown stronger thanks to the positive change in the world market and especially the good price. With the current growth rate, in 2022 Vietnam’s fertilizer industry can set a new record in export turnover when it first exceeds the USD 1 billion mark.

In the domestic market, fertilizer prices decreased slightly in July, but recently due to the influence of the world market and favourable exports, fertilizer prices increased again with a range of 50,000 – 10,000 VND/ bag. Specifically, the price of urea fertilizer is from 780,000 to 840,000 VND/bag, DAP fertilizer is about 1.1 – 1.35 million VND/bag, and potash fertilizer is from 900,000 to 980,000 VND/bag…

Fertilizer prices continue to remain high, which is a challenge for farmers, especially rice growers because they are currently in the winter-spring rice production season in the Mekong Delta. Meanwhile, the policy of imposing a 5% export tax on fertilizer products is still being studied by the Ministry of Finance.

Soure: Chi Nhan