Fertilizer market continues to oversupply, the estimated supply of nutrients by fertilizer component in 2019 increased by 1.14% while demand increased by 1.6% compared to 2018. Due to the El Nino phenomenon, erratic weather events have made Reducing profits from agriculture in countries, world fertilizer demand will only grow slightly in 2019 to 192.0 million tons and estimated at 194.9 million tons in 2020. Following previous trends, in 2020, K demand is expected to grow faster (2.3%/year) than demand P (0.4%/year) and N (-1.1%/year).
By the end of Q1/2020, Vietnam's fertilizer imports reached 985.86 thousand tons, up 0.57% over the same period in 2019. Urea imports plummeted 64.38% compared to Q1/2019, to 39.07 thousand tons, accounting for 3.96 % of total imported fertilizers. DAP imports immediately increased sharply in the second period of March with nearly 69.39 thousand tons, accounting for 46.7% of DAP imports in Q1/2020. NPK imports increased by 13.42% over the same period last year, reaching 87.08 thousand tons. Potassium and SA are the most imported fertilizers because Vietnam cannot produce them, so it depends entirely on the import source, SA imports increased by 28.79% while Potassium imports decreased by 20.01% in Q1/2020 compared to Q1/2019.
By the end of Q1/2020, Vietnam's fertilizer imports reached 985.86 thousand tons, up 0.57% over the same period in 2019. Urea imports plummeted 64.38% compared to Q1/2019, to 39.07 thousand tons, accounting for 3.96 % of total imported fertilizers. DAP imports immediately increased sharply in the second period of March with nearly 69.39 thousand tons, accounting for 46.7% of DAP imports in Q1/2020. NPK imports increased by 13.42% over the same period last year, reaching 87.08 thousand tons. Potassium and SA are the most imported fertilizers because Vietnam cannot produce them, so it depends entirely on the import source, SA imports increased by 28.79% while Potassium imports decreased by 20.01% in Q1/2020 compared to Q1/2019.
Table of Contents
AbbreviationsExecutive summary
1. Business environment
2. World market
3. Vietnam market
4 Enterprise analysis
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Phu My Fertilizer Plant - Petro Vietnam Fertilizer and Chemicals Corporation
- Ca Mau Petroleum Fertilizer Joint Stock Company
- Binh Dien Fertilizer Joint Stock Company
- Lam Thao Fertilizers and Chemicals Joint Stock Company
- Ha Bac Nitrogenous Fertilizer & Chemicals Joint Stock Company
- Quảng Binh Import Export Company
- Southeast Petrovietnam Fertilizer and Chemicals Corporation
- Southwest Petrovietnam Fertilizer and Chemicals Corporation
- Central Petrovietnam Fertilizer and Chemicals Corporation
- North Petrovietnam Fertilizer and Chemicals Corporation
Methodology
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