Vietnam: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in Vietnam

In 2022, the Vietnamese mixed fertilizer market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Mixed Fertilizer Production in Vietnam

In value terms, mixed fertilizer production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild decrease. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Mixed Fertilizer Exports

Exports from Vietnam

In 2022, overseas shipments of mixed fertilizers decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports saw a slight decrease. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, mixed fertilizer exports soared to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X tons) was the main destination for mixed fertilizer exports from Vietnam, accounting for a X% share of total exports. Moreover, mixed fertilizer exports to Cambodia exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. The third position in this ranking was taken by Indonesia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Cambodia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Indonesia (X% per year).

In value terms, the largest markets for mixed fertilizer exported from Vietnam were Cambodia ($X), Indonesia ($X) and the Philippines ($X), together comprising X% of total exports. Myanmar, Malaysia, Lao People's Democratic Republic, Mozambique and South Korea lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mixed fertilizer export price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into Vietnam

Mixed fertilizer imports into Vietnam dropped to X tons in 2022, shrinking by X% compared with the previous year's figure. Overall, imports recorded a perceptible descent. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, mixed fertilizer imports surged to $X in 2022. Over the period under review, imports recorded a mild contraction. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Russia (X tons) and South Korea (X tons) were the main suppliers of mixed fertilizer imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest mixed fertilizer suppliers to Vietnam were China ($X), Russia ($X) and South Korea ($X), with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average mixed fertilizer import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Russia ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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