Vietnam: Mixed Fertilizer Market 2025

Mixed Fertilizer Market Size in Vietnam

In 2022, the Vietnamese mixed fertilizer market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, recorded a slight setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Mixed Fertilizer Production in Vietnam

In value terms, mixed fertilizer production fell modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild downturn. The growth pace was the most rapid in 2018 when the production volume increased by 27%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Mixed Fertilizer Exports

Exports from Vietnam

After two years of growth, overseas shipments of mixed fertilizers decreased by -12% to X tons in 2022. Overall, exports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2020 when exports increased by 88%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, mixed fertilizer exports dropped dramatically to $X in 2022. Over the period under review, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 when exports increased by 58%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons) was the main destination for mixed fertilizer exports from Vietnam, with a 40% share of total exports. Moreover, mixed fertilizer exports to Cambodia exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. Myanmar (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cambodia stood at -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+9.4% per year) and Myanmar (+20.3% per year).

In value terms, Cambodia ($X), Indonesia ($X) and Myanmar ($X) were the largest markets for mixed fertilizer exported from Vietnam worldwide, with a combined 64% share of total exports.

In terms of the main countries of destination, Myanmar, with a CAGR of +17.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average mixed fertilizer export price amounted to $X per ton, waning by -7.3% against the previous year. Over the period under review, the export price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 24%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into Vietnam

Mixed fertilizer imports into Vietnam totaled X tons in 2022, surging by 10% compared with the year before. Over the period under review, imports, however, continue to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 27%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, mixed fertilizer imports shrank slightly to $X in 2022. In general, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 15% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Russia (X tons) and South Korea (X tons) were the main suppliers of mixed fertilizer imports to Vietnam, together accounting for 72% of total imports. Mexico, Egypt, the Philippines, Australia, Norway and Morocco lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +49.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of mixed fertilizers to Vietnam, comprising 49% of total imports. The second position in the ranking was taken by Russia ($X), with a 16% share of total imports. It was followed by South Korea, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+3.9% per year) and South Korea (+10.3% per year).

Import Prices by Country

In 2022, the average mixed fertilizer import price amounted to $X per ton, shrinking by -12.9% against the previous year. Overall, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 an increase of 32%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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