Fertiliser exports have set a new record, as the nine-month revenue was already 300 million USD higher than last year’s figure, the Dau tu (Vietnam Investment Review) reported.
Fertilizer is packaged at a factory in Vietnam. (Photo: VNA)
Hanoi (VNA) –Fertiliser exports have set a new record, as the nine-month revenue was already300 million USD higher than last year’s figure, the Dau tu (Vietnam InvestmentReview) reported.
In the first nine months of2022, the country shipped nearly 1.39 million tonnes of fertiliser worth 886million USD abroad, soaring 45.4% in volume and 166% in value from a yearearlier, according to the General Department of Vietnam Customs.
The surge in revenue wasattributed to rising global export prices, which averaged 637.7 USD per tonnein the period under review, up 83% from the same period of 2021. Last year, the countryearned 559 million USD from exporting 1.35 million tonnes of fertiliser, respectively up 64% and 16.4%.
After nearly one year of strongfluctuations in the global market due to political and economic uncertainties, fertiliserprices have shot up, and many Vietnamese producers have grasped this chance topromote overseas shipments.
Export prices posted sharp growth due to the COVID-19 pandemic in 2020 and 2021, and especially since thebeginning of 2022 as a result of the Russia - Ukraine conflict, Dau tu noted.
Beside, as domestic demand stands at about 11 million tonnes each year while factories in Vietnamare licenced to produce over 29 million tonnes annually, businesses have beenworking to seek markets and boost exports.
The rise in export volumesince the start of this year has also been fueled by China’s export reductionand Western countries’ sanctions against Russia – a leading fertiliser exporterin the world, the newspaper pointed out./.
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Fertilizer is packaged at a factory in Vietnam. (Photo: VNA) 
