Vietnam imports over 2.4 million tonnes of fertiliser in six months
Vietnam splashed out 790 million USD to import 2.43 million tonnes of fertiliser in the first half of this year, a year-on-year increase of 21.8 percent in value and 1.2 percent in volume.
Vietnam splashed out 790 million USD to import 2.43 million tonnes of fertiliser in the first half of this year. (Photo: VNA)
Hanoi (VNA) – Vietnam splashed out 790 million USD to import 2.43million tonnes of fertiliser in the first half of this year, a year-on-year increaseof 21.8 percent in value and 1.2 percent in volume.
The Ministry of Agriculture and Rural Development said that in June alone, thecountry purchased 432,000 tonnes of fertiliser worth 129 million USD.
Of the total import during January-June, imports of urea fertiliser mounted to261,000 tonnes while those of SA fertiliser were 474,000 tonnes, up 16.2percent and 7.8 percent from the same time last year, respectively.
Vietnam’s imports oforganic fertiliser have surged in the past three years, reflecting increasingdemand for the green product.
In 2017 alone,Vietnam imported about 220,000 tonnes of organic fertiliser, double the amountof 2016.
The countrycurrently needs about 11 million tonnes of fertiliser a year. As of December2017, the number of registered organic fertiliser products was 713, accountingfor 5 percent of the total, while the number of inorganic products made up 93.7percent and biological products 1.3 percent.
Itaims to annually manufacture 3 million tonnes of organic fertiliser by 2020.-VNA
Vietnamese firms ship an annual average of about 0.8 million tonnes of fertiliser overseas, according to the Ministry of Agriculture and Rural Development.
Following the implementation of a provisional tax on imported fertilisers, more things need to be done to help balance benefits of both local producers’ and farmers’ benefits, industry insiders have agreed.
Fertiliser stocks are surprising the market with many large names hitting the ceiling prices, mainly due to the Ministry of Finance’s decision to make fertiliser subject to VAT at the preferential rate of 5 percent.
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Vietnam splashed out 790 million USD to import 2.43 million tonnes of fertiliser in the first half of this year. (Photo: VNA) 
