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In this context, many parties suggested that Vietnam should consider suspending the export of chemical fertilizers to reduce the upward pressure on domestic market prices
.
After the outbreak of the Russian-Ukrainian war, the price of urea in the Vietnamese market immediately rose by 25%
.
In the first half of March, the price of domestic fertilizers in Vietnam rose by 300-700 VND/kg according to different types, which is the third time since the beginning of the year
.
.
In the first half of March, the price of domestic fertilizers in Vietnam rose by 300-700 VND/kg according to different types, which is the third time since the beginning of the year
.
In the first two months of this year, Vietnam's fertilizer exports to most markets increased significantly year-on-year
.
Cambodia still ranks first in Vietnam’s fertilizer exports.
Vietnam’s total exports to this market reached 53,133 tons, a year-on-year decrease of 12.
4%, accounting for 15%; the export value exceeded 25.
55 million US dollars, and the export value increased by 35.
5%, accounting for 10.
6%
.
.
Cambodia still ranks first in Vietnam’s fertilizer exports.
Vietnam’s total exports to this market reached 53,133 tons, a year-on-year decrease of 12.
4%, accounting for 15%; the export value exceeded 25.
55 million US dollars, and the export value increased by 35.
5%, accounting for 10.
6%
.
After Cambodia, Vietnam’s second and third largest fertilizer export markets in the first two months of this year were South Korea and Myanmar, with exports to these two markets increasing by 435.
9% and 1,071% year-on-year respectively
.
9% and 1,071% year-on-year respectively
.
Feng Ha, vice-chairman and secretary-general of the Vietnam Fertilizer Association, said that the sharp rise in domestic fertilizer prices in Vietnam was mainly due to the impact of the global fertilizer market
.
Among them, the increase in the price of oil has led to the increase in the price of raw materials for fertilizer production
.
.
Among them, the increase in the price of oil has led to the increase in the price of raw materials for fertilizer production
.
Notably, Russia and China, two of the world's largest exporters of fertilizers, have decided to restrict the export of fertilizers to prevent shortages in the domestic market and lead to higher prices
.
Specifically, China has imposed export controls on 29 types of fertilizers from October 15, 2021
.
Meanwhile, on November 17, 2021, Russia restricted the export of nitrogen fertilizers and nitrogen-containing synthetic fertilizers for six months in an attempt to curb the surge in fertilizer prices caused by soaring natural gas prices
.
.
Specifically, China has imposed export controls on 29 types of fertilizers from October 15, 2021
.
Meanwhile, on November 17, 2021, Russia restricted the export of nitrogen fertilizers and nitrogen-containing synthetic fertilizers for six months in an attempt to curb the surge in fertilizer prices caused by soaring natural gas prices
.
While the price of domestic fertilizers in Vietnam is rising, Vietnam continues to export a large number of fertilizers
.
According to statistics from the General Administration of Vietnam Customs, in 2021, Vietnam will export more than 1.
35 million tons of chemical fertilizers, a year-on-year increase of 16.
4%; the export value is 559.
35 million US dollars, a year-on-year increase of 64.
2%
.
In the first two months of this year, Vietnam's chemical fertilizer exports reached 352,672 tons, a year-on-year increase of 69.
9%; the export value was nearly 241.
68 million US dollars, a year-on-year increase of 280.
6%
.
The average export price reached US$685.
3/ton, a year-on-year increase of 124%
.
.
According to statistics from the General Administration of Vietnam Customs, in 2021, Vietnam will export more than 1.
35 million tons of chemical fertilizers, a year-on-year increase of 16.
4%; the export value is 559.
35 million US dollars, a year-on-year increase of 64.
2%
.
In the first two months of this year, Vietnam's chemical fertilizer exports reached 352,672 tons, a year-on-year increase of 69.
9%; the export value was nearly 241.
68 million US dollars, a year-on-year increase of 280.
6%
.
The average export price reached US$685.
3/ton, a year-on-year increase of 124%
.
