Vietnam shipped abroad 692,259 tonnes of fertilisers in the first five months of this year for more than 289 million USD, down 8.9% in volume and 42.2% in value over the same period in 2022, reported the General Department of Vietnam Customs.

In May alone, the export volume reached 154,995 tonnes of all kinds, up 17.5% year on year, with a turnover of 56.9 million USD, a rise of 17.4% over that of April but a decrease of 35.2% over the same period last year.

The major market of Vietnamese fertilisers in the period under review was Cambodia which made up 33% of the total export volume and value of the product.

It was followed by the Republic of Korea with 47,838 tonnes with a value of 17.62 million USD, down 16.9% and 62% year on year. Malaysia came third by buying 44,552 tonnes.

Meanwhile, the export of the products to the RCEP (Regional Comprehensive Economic Partnership) countries reached 391,107 tonnes, earning162.64 million USD, down 16.2% in volume and 42.8% in value. Meanwhile, Vietnam exported 48,442 tonnes of fertilisers worth 16.61 million USD to CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) member countries, a decrease of 47.9% and 63.5%, respectively.

A downturn of 14.5% in volume and 37.6% in value was also seen in the Southeast Asian market to 340,379 million tonnes and 143.63 million USD, according to the department.

Amid the situation, local firms are working to expand export markets, and seeking new market along with traditional ones./.

Source: Vietnam Plus