FERTILIZER EXPORT ON 7 MAY 2023 DISCOUNT 45.8% GROWTH

Fertilizer exports in the first seven months of 2023 recorded a sharp decrease in volume, value and price over the same period.

In the first 7 months of 2023, the whole country exported 942,576 tons of fertilizers of all kinds, equivalent to 391.05 million USD, with an average price of 414.9 USD/ton.

At the loading port of Ca Mau Fertilizer Plant.

According to statistics of the General Department of Customs, in the first 7 months of 2023, the whole country exported 942,576 tons of fertilizers of all kinds, equivalent to 391.05 million USD, the average price was 414.9 USD/ton, down 15% in volume. volume, down 45.8% in turnover and 36.2% in price over the same period in 2022. Thus, this number is much lower than the number of 7 months in 2022.

Specifically, in the first seven months of 2022, the whole country exported over 1.11 million tons of fertilizers of all kinds, equivalent to 721.81 million USD, with the average price of 649.7 USD/ton, a sharp increase of 41.5% in volume increased by 174.3 percent in turnover and 93.8% in price compared to the first 7 months of 2021.

Particularly in July 2023, the export of 141,006 tons of fertilizers of all kinds reached US$54.66 million, priced at US$387.6/ton, up 30.6% in volume, up 17% in turnover but down 10.4% in price. compared to June 2023;

Compared to July 2022, it also increased by 25.5% in volume, but decreased by 27.2% in turnover and decreased by 42% in price. Vietnam's fertilizer exports are mainly to Cambodia, which alone accounts for over 36% of the country's total fertilizer export volume and turnover, reaching 341,219 tons, equivalent to $142.59 million. , the average price was 417.9 USD/ton, an increase of 15.2% in volume but a decrease of 10.9% in turnover and a decrease in price of 22.6% compared to the same period in 2022.

Particularly in July 2023, exports to the market This reached 49,733 tons, equivalent to 19.69 million USD, the average price was 395.9 USD/ton, down 21.2% in volume and 27.2% in turnover, the price decreased by 7.6% compared to June/June. 2023.

Behind Cambodia's main market is Malaysia with 56,824 tons, equivalent to 18.45 million USD, the average price is 324.6 USD/ton, down 38% in volume, down 59.2% in turnover and down 34.5% in volume. 2% in price, accounting for 6% of the total volume and 4.7% of the total fertilizer export turnover of the country.

Export to the Korean market reached 48,484 tons, equivalent to 17.93 million USD, the average price was 369.9 USD/ton, a sharp decrease of 41.2% in volume, 71% decrease in turnover and 50.8% decrease in price. , accounting for 5.1% of the total volume and 4.6% of the total turnover.

Exports to RCEP FTA markets reached 541,390 tons, equivalent to USD 223 million, down 16.2% in volume, down 42.5% in turnover. Exports to FTA CPTTP markets reached 60,508 tons, equivalent to 20.13 million USD, down 42.9% in volume, down 63.2% in turnover.

Export to the Southeast Asian market reached 489,222 tons, equivalent to 203.38 million USD, down 11% in volume, down 35.7% in turnover.

In general, the fertilizer market in 2023 is much quieter than in 2022 when exports decrease, prices decrease, and domestic consumption decreases. Dr. Phung Ha - Vice Chairman of the Vietnam Fertilizer Association also said that 2023 is a difficult year for the fertilizer industry.

Also in this year, the price of urea recorded a sharp decline compared to 2022 (at one time, the price of urea fell to less than 50% of 2022), making it difficult for large fertilizer enterprises.

Facing this situation, fertilizer enterprises continue to propose to soon approve the plan to amend and supplement Law 71/2014/QH13, bringing fertilizer products into the VAT taxable area with the tax rate of 0% or 5%. This will help fertilizer businesses deduct input VAT, help lower the cost of fertilizer when it reaches farmers, and reduce the burden on production enterprises.