Vietnam reportedly spent USUS$149 million importing 714,000 tons of fertilizers in the first three months this year, up 28.5 per cent in value and 29.9 per cent in volume against the same period last year, according to the Government Statistics Office (GSO).
The total imported volume includes 114,000 tons of urea worth USUS$29 million, down 22 per cent and 26.5 per cent, respectively. The urea is mostly imported from China, Indonesia, Russia and the Middle East.
Vietnam’s total demand for fertilizers in 2007 is estimated at nearly 7.9 million tons, including 1.8 million tons of urea, and domestic supplies are likely to stand at 4.7 million tons, according to the Ministry of Trade.
Vietnam will have to import about 19.43 million tons of fertilizer of all kinds between now and 2010 in order to meet agricultural production demand, according to the Vietnam Chemical Corporation (Vinachem).
As a result, nearly 4.9 million tons of fertilizers will be imported annually into Vietnam over that time. Urea, potassium, SA nitrogenous, DAP and MAP are the most common imported fertilizers.
Last year, Vietnam imported over 3 million tons of fertilizers, including 708,000 tons of urea, totaling USUS$673 million, up 5.9 per cent and 5.1 per cent respectively, compared to those of the previous year.
The country, home to over 150 fertilizer producers with annual capacity ranging from 500 tons to one million tons, plans to build four major fertilizer plants with a combined annual capacity of nearly 1.8 million tons in the 2005-2010 period.
In related news, fertilizer prices are currently soaring to between VND5,680-6,850 per kilo in almost all Mekong Delta provinces. The increases of imported fertilizer and coal prices are mostly attributed to the soaring local market fertilizer prices, which are also backed by increasing demand for fertilizer in the northern region. (Mar GSO Edition, Liberated Saigon)
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