Vietnam: Salt Market Overview 2021

Salt Market Size in Vietnam

In 2019, the Vietnamese salt market decreased by -X% to $X for the first time since 2013, thus ending a five-year rising trend. Over the period under review, the total consumption indicated notable growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2013 indices. The most prominent rate of growth was recorded in 2010 when the market value increased by X% year-to-year. Salt consumption peaked at $X in 2018, and then shrank in the following year.

Salt Production in Vietnam

In value terms, salt production expanded sharply to $X in 2019 estimated in export prices. Overall, production showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Salt production peaked in 2019 and is likely to see gradual growth in years to come.

Salt Exports

Exports from Vietnam

In 2019, overseas shipments of salt and pure sodium chloride decreased by X% to X tonnes for the first time since 2016, thus ending a two-year declining trend. Overall, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2011 when exports increased by X% against the previous year. As a result, exports reached the peak of X tonnes. From 2012 to 2019, the growth exports remained at a somewhat lower figure.

In value terms, salt exports totaled $X in 2019. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2011 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. From 2012 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

Japan (X tonnes), the U.S. (X tonnes) and Canada (X tonnes) were the main destinations of salt exports from Viet Nam, together accounting for X% of total exports. Australia, South Korea, Kuwait, Taiwan (Chinese) and Cambodia lagged somewhat behind, together comprising a further X 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for salt exported from Viet Nam were Japan ($X), the U.S. ($X) and Canada ($X), with a combined X% share of total exports. Australia, South Korea, Kuwait, Taiwan (Chinese) and Cambodia lagged somewhat behind, together accounting for a further X (+X% per year) recorded the highest rates of growth with regard to the value of exports, in terms of 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 salt export price stood at $X per tonne in 2019, approximately mirroring the previous year. In general, the export price enjoyed moderate growth. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. The export price peaked at $X per tonne in 2009; however, from 2010 to 2019, export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2019, the countries with the highest prices were Australia ($X per tonne) and Japan ($X per tonne), while the average price for exports to Kuwait ($X per tonne) and Canada ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait, while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Vietnam

In 2019, supplies from abroad of salt and pure sodium chloride decreased by -X% to X tonnes for the first time since 2014, thus ending a four-year rising trend. Over the period under review, imports saw a deep slump. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2018, and then reduced markedly in the following year.

In value terms, salt imports skyrocketed to $X in 2019. Overall, imports showed a significant expansion. The pace of growth appeared the most rapid in 2012 when imports increased by X% against the previous year. Imports peaked in 2019 and are likely to continue growth in the near future.

Imports by Country

India (X tonnes), Thailand (X tonnes) and New Zealand (X tonnes) were the main suppliers of salt imports to Viet Nam, with a combined X% share of total imports. These countries were followed by Pakistan, Israel, the UK and South Korea, which together accounted for a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea, while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of salt to Viet Nam, comprising X% of total imports. The second position in the ranking was occupied by New Zealand ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from India totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+X% per year) and Thailand (+X% per year).

Import Prices by Country

The average salt import price stood at $X per tonne in 2019, picking up by X% against the previous year. Over the period under review, the import price enjoyed significant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was South Korea ($X per tonne), while the price for Thailand ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for salt and pure sodium chloride in the world?

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The countries with the highest volumes of salt consumption in 2019 were China (77M tonnes), the U.S. (62M tonnes) and India (18M tonnes), with a combined 51% share of global consumption. Australia, Germany, Canada, Brazil, Mexico, France, the UK and Turkey lagged somewhat behind, together accounting for a further 22%.

What are the largest producers of salt and pure sodium chloride in the world?

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The countries with the highest volumes of salt production in 2019 were China (69M tonnes), the U.S. (42M tonnes) and India (31M tonnes), together comprising 47% of global production. These countries were followed by Canada, Germany, Australia, Chile, Mexico, Brazil, Egypt, Turkey, France and the Netherlands, which together accounted for a further 29%.

What are the leading suppliers of salt and pure sodium chloride to Vietnam?

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In value terms, India ($16M) constituted the largest supplier of salt to Viet Nam, comprising 55% of total imports. The second position in the ranking was occupied by New Zealand ($1.7M), with a 5.8% share of total imports. It was followed by Thailand, with a 4.5% share.

What are the leading importers of salt and pure sodium chloride from Vietnam?

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In value terms, the largest markets for salt exported from Viet Nam were Japan ($688K), the U.S. ($414K) and Canada ($327K), with a combined 73% share of total exports. These countries were followed by Australia, South Korea, Kuwait, Taiwan (Chinese) and Cambodia, which together accounted for a further 24%.

What is the average export price for salt and pure sodium chloride in Vietnam?

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In 2019, the average salt export price amounted to $160 per tonne, therefore, remained relatively stable against the previous year.

What is the average import price for salt and pure sodium chloride in Vietnam?

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In 2019, the average salt import price amounted to $1,191 per tonne, growing by 848% against the previous year.