According to the Ministry of Agriculture and Rural Development, fertilizer exports officially hit the milestone of more than USD 1 billion, reaching more than 1.6 million tons. Vietnam's fertilizer products have been exported to most of the world markets, such as France, India, South Asian countries and markets as far away as South America, Peru, Mexico, the United States.

It is the favorable export of fertilizers that has made many names in the fertilizer industry such as Phu My Fertilizer, Ca Mau Fertilizer, a number of units in the Vietnam Chemical Group such as Southern Fertilizer, Binh Dien Fertilizer, etc. recorded high profits over the same period.

Regarding the reasons for the increase in fertilizer exports, in 2022, agricultural production in the main countries recorded high growth, leading to a sharp increase in the demand for fertilizer. On the one hand, due to the mild weather, farming is more favorable. In addition, countries focus more on food security policies thus increasing their stockpiles, consuming large amounts of key agricultural products such as rice, wheat, cereals, and soybeans, etc.

In particular, another reason for the increase in selling prices is the impact of the Russia-Ukraine war, the increase in gas prices has pushed up fertilizer prices, and a sharp increase in the USD exchange rate since the beginning of the year... Those are the advantages that help Vietnam's fertilizer industry achieve an export turnover of more than USD 1 billion USD with more than 1.6 million tons.

Entering 2023, the fertilizer industry is forecasted to continue to face unending hot issues such as soaring raw material prices, scarce gas supply from Asia to Europe, and rising input costs.

With the Russia-Ukraine conflict continuing, the global economy facing difficulties, and the risk of epidemics remaining, the Ministry of Agriculture and Rural Development predicts that in the upcoming time period, the fertilizer market will remain complicated. complicated and unpredictable in price and supply. Especially with potassium fertilizers provided by Russia and Belarus, accounting for nearly 50% of the total demand of the world. Meanwhile, with this fertilizer, Vietnam is completely dependent on imported sources.

Kylie Nguyen