Nitrites; Nitrates Price in Vietnam - 2022
Contents:
- Nitrites; Nitrates Price in Vietnam (CIF) - 2022
- Nitrites; Nitrates Price in Vietnam (FOB) - 2022
- Nitrites; Nitrates Imports in Vietnam
- Nitrites; Nitrates Exports in Vietnam
Nitrites; Nitrates Price in Vietnam (CIF) - 2022
In December 2022, the average nitrites; nitrates import price amounted to $5,270 per ton, surging by 210% against the previous month. Over the period under review, the import price saw a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Chile ($1,526 per ton), while the price for South Korea stood at $1,524 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Price in Vietnam (FOB) - 2022
The average nitrites; nitrates export price stood at $932 per ton in 2022, increasing by 20% against the previous year. Overall, the export price, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2019 an increase of 25%. The export price peaked at $1,538 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Myanmar.
From 2012 to 2022, the rate of growth in terms of prices for South Korea amounted to -1.2% per year.
Nitrites; Nitrates Imports in Vietnam
In 2022, supplies from abroad of nitrites; nitrateses decreased by -10.9% to 14K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +6.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, imports attained the peak of 16K tons, and then declined in the following year.
In value terms, nitrites; nitrates imports fell to $11M in 2022. Overall, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. As a result, imports reached the peak of $12M, and then declined in the following year.
| Import of Nitrites; Nitrates in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.6 | 3.3 | 3.8 | 4.6 | 20.9% |
| Netherlands | 0.3 | 0.6 | 1.2 | 1.6 | 74.7% |
| South Korea | 3.5 | 1.9 | 0.9 | 1.2 | -30.0% |
| Poland | 0.3 | 0.2 | 0.5 | 0.6 | 26.0% |
| Chile | 0.2 | 0.2 | 0.3 | 0.4 | 26.0% |
| India | 0.1 | 0.1 | 0.2 | 0.2 | 26.0% |
| Japan | 1.5 | 0.4 | 0.4 | 0.2 | -48.9% |
| Thailand | 2.4 | 2.0 | 2.6 | N/A | 4.1% |
| Others | 1.2 | 1.6 | 2.4 | 2.6 | 29.4% |
| Total | 11.9 | 10.2 | 12.4 | 11.3 | -1.7% |
Top Suppliers of Nitrites; Nitrates to Vietnam in 2022:
- China (9.8K tons)
- Netherlands (1.6K tons)
- Poland (1.2K tons)
- South Korea (0.7K tons)
- Chile (0.6K tons)
- India (0.4K tons)
- Japan (0.1K tons)
Nitrites; Nitrates Exports in Vietnam
In 2022, the amount of nitrites; nitrateses exported from Vietnam skyrocketed to 66 tons, rising by 81% against 2021 figures. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 2,423% against the previous year. As a result, the exports attained the peak of 96 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, nitrites; nitrates exports surged to $62K in 2022. Overall, exports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 1,967% against the previous year. As a result, the exports attained the peak of $95K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Nitrites; Nitrates in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Myanmar | 3.0 | 3.6 | N/A | 61.8 | 174.1% |
| South Korea | N/A | N/A | 15.4 | N/A | 0% |
| China | N/A | 81.6 | N/A | N/A | 0% |
| Cambodia | N/A | 10.0 | 4.4 | N/A | -56.0% |
| Lao People's Democratic Republic | 1.6 | N/A | 6.9 | N/A | 107.7% |
| Others | N/A | N/A | 1.6 | N/A | 0% |
| Total | 4.6 | 95.2 | 28.4 | 61.8 | 137.7% |
Top Export Markets for Nitrites; Nitrates from Vietnam in 2022:
- Myanmar (66.3 tons)
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