According to the General Department of Vietnam Customs, in the first nine months of 2022, the country shipped nearly 1.39 million tons of fertilizer worth 886 million USD abroad, soaring over 45 percent in volume and 166% in value from a year earlier.
After nearly one year of strong fluctuations in the global market due to political and economic uncertainties, fertilizer prices have shot up, and many Vietnamese producers have grasped this chance to promote overseas shipments.
Export prices posted sharp growth due to the COVID-19 pandemic in 2020 and 2021, and especially since the beginning of 2022 as a result of the Russia - Ukraine conflict.
Beside, as domestic demand stands at about 11 million tons each year while factories in Vietnam are licensed to produce over 29 million tons annually, businesses have been working to seek markets and boost exports./.
