Vietnam Spends US$162Mln on Fertilizer Imports in First Four Months
Vietnam is estimated to spend US$162 million importing 769,000 tons of fertilizer in the first four months of this year, up 5 per cent in value and 3.1 per cent in volume, according to the latest statistics released by the government.
Of the total volume, 205,000 tons were urea, costing US$49 million, the statistics showed.
The Ministry of Trade announced that Vietnam's fertilizer supply, sourced from both local production and imports, would be adequate for the upcoming summer-autumn crop.
Urea demand is predicted to reach 460,000 tons this year, with an expected usage of 60,000 tons in the north, 90,000 tons in the central provinces and 31,0000 tons in the south.
Officials from the ministry said the Phu My Fertilizer Company has a stockpile of 125,000 tons, while an additional 100,000 tons is being held in reserve by importers.
The Market Executive Board under the MoT reports that at present urea is priced at VND4.5-4.8 million per ton at the domestic markets
The price is forecast to slightly rise this month due to increased global prices.
Liberated Saigon, Vietnam Economic Times
Vietnamese
