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Fertilizer imports fell sharply

In March, the import volume of fertilizers of all kinds reached 320,000 tons, down 7.8% over the same period last year.

This is the data from the Center for Informatics and Statistics just announced. With this import volume equivalent to 127.6 million USD, up 55.8% in value over the same period in 2021.

Vietnam mainly imports fertilizers from China (32.7%), Russia (13.8%) and Belarus (10.8%).

The decrease in the volume of imported fertilizers is because Russia recommends that businesses stop exporting to ensure the safety of these businesses in the context that shipping companies do not receive goods from Russia. The country accounts for about 16% of total Urea exports worldwide.

Russia’s threat to cut gas through the Nord Stream 1 pipeline also raises concerns about gas shortages and pushes up Urea prices. The selling price of this item is likely to increase more strongly than input gas prices in the context that China has not yet restored urea production due to coal shortage and high coal prices.

After stopping coal imports from Australia, Russia became the second largest coal supplier to China after Indonesia. The fact that Russia is no longer in the SWIFT system disrupts imports, thereby reducing coal supply in China and pushing up Urea prices in the short term.

Under the influence of the above factors, the price of Urea may peak in March. However, this item may decrease from June when China gradually eases export policies and the problem of coal shortage is gradually overcome. .

Urea price in Vietnam will move according to the world price trend, but there is a certain delay. Currently, Ninh Binh Urea is priced at 16,500 VND per kg, Ha Bac Urea is 16,000 VND per kg, Dinh Vu DAP fertilizer is sold by Northern fertilizer agents for 18,800 VND per kg, Lao Cai DAP fertilizer is 18,500 VND per kg. Meanwhile, Ha Bac Urea fertilizer 16,000 VND per kg, Phu My Urea, …

In the Mekong Delta, the price of French Stork NPK is selling at 19,000 VND per kg; NPK buffalo head 18,700 VND per kg; Urea price is at 1 million VND per bag (50 kg). Compared to February, the prices of the above fertilizers increased by 5-8%.

Hong Chau

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