Price for Fertilizers; Mineral or Chemical, Phosphatic in Vietnam - 2021

Price for Fertilizers; Mineral or Chemical, Phosphatic in Vietnam (FOB) - 2021

The average export price for fertilizers; mineral or chemical, phosphatics stood at $214 per ton in December 2021, picking up by 16% against the previous month. Over the period under review, the export price, however, recorded a sharp downturn. The pace of growth appeared the most rapid in October 2021 when the average export price increased by 24% against the previous month. The export price peaked at $7,512 per ton in December 2020; however, from January 2021 to December 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($296 per ton), while the average price for exports to Malaysia ($180 per ton) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Fertilizers; Mineral or Chemical, Phosphatic in Vietnam (CIF) - 2022

The average import price for fertilizers; mineral or chemical, phosphatics stood at $72 per ton in 2022, reducing by -5.6% against the previous year. In general, the import price showed a deep slump. The most prominent rate of growth was recorded in 2019 an increase of 35%. Over the period under review, average import prices reached the peak figure at $192 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Jordan ($1,308 per ton), while the price for China totaled $64 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+13.9%).

Exports of Fertilizers; Mineral or Chemical, Phosphatic in Vietnam

In 2022, overseas shipments of fertilizers; mineral or chemical, phosphatics decreased by -2.7% to 158K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +1.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 5.5% against the previous year. As a result, the exports attained the peak of 163K tons, and then dropped in the following year.

In value terms, fertilizers; mineral or chemical, phosphatic exports contracted to $57M in 2022. The total export value increased at an average annual rate of +6.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 32% against the previous year. As a result, the exports attained the peak of $65M, and then contracted in the following year.

Export of Fertilizers; Mineral or Chemical, Phosphatic in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	24.2	28.7	38.1	32.3	10.1%
South Korea	7.2	6.3	8.3	7.0	-0.9%
Cambodia	4.5	5.2	5.5	4.8	2.2%
Lao People's Democratic Republic	4.9	2.9	3.4	3.5	-10.6%
Myanmar	3.0	2.7	3.8	3.5	5.3%
Japan	1.0	1.5	2.8	3.5	51.8%
Australia	0.9	0.4	1.5	1.3	13.0%
Others	1.3	1.8	1.9	1.2	-2.6%
Total	47.0	49.3	65.3	57.3	6.8%

Top Export Markets for Fertilizers; Mineral or Chemical, Phosphatic from Vietnam in 2022:

Malaysia (97.3K tons)
South Korea (23.2K tons)
Cambodia (14.1K tons)
Lao People's Democratic Republic (9.5K tons)
Japan (5.1K tons)
Myanmar (3.9K tons)
Australia (3.1K tons)

Imports of Fertilizers; Mineral or Chemical, Phosphatic in Vietnam

Fertilizers; mineral or chemical, phosphatic imports into Vietnam dropped remarkably to 25K tons in 2022, reducing by -32.3% compared with 2021 figures. Overall, imports showed a mild contraction. The pace of growth was the most pronounced in 2021 with an increase of 292% against the previous year. As a result, imports reached the peak of 36K tons, and then dropped markedly in the following year.

In value terms, fertilizers; mineral or chemical, phosphatic imports dropped sharply to $1.8M in 2022. In general, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2021 when imports increased by 259%. As a result, imports reached the peak of $2.8M, and then fell notably in the following year.