Local fertiliser industry growing
Viet Nam uses 11 million tonnes of fertiliser annually, 90 per cent of it inorganic, and its consumption of local products is rising, the Ministry of Industry and Trade said. — Photo vietnambiz.vn
More and more domestically produced fertilisers are being used and there is a drop in imported products, the ministry said. In recent years, the country’s fertiliser sector has seen strong growth.
The country has been active in ensuring the supply of urea fertilisers for agricultural production even as it develops new fertilisers such as DAP and kali. Vietnamese fertiliser producers have invested in technologies, equipment and quality of phosphate and NPK fertilisers, the ministry said.
Local producers can meet demands for urea, phosphate and NPK fertilisers, and even manage to export some products to Cambodia, Laos, Indonesia, the Philippines, South Korea and Japan. However, Viet Nam still has to import its entire requirement for SA fertiliser.
Nguyen Gia Tuong, general director of Viet Nam Chemical Industry Group (Vinachem), said that in 2017, his company had targeted an industrial production value of VND42.4 trillion, which was an 8.3 per cent rise from last year.
Its turnover is expected to reach VND43.5 trillion, a 3.9 per cent year-on-year increase. The company’s units have to increase production to meet the demands for agricultural production and export, he said.
The group is also working to stabilise the domestic fertiliser market and avoid shortage and unreasonable price spike, Tuong said. Vinachem has asked its units to improve trade promotion activities and expand its markets. At the same time, the company is implementing the give-priority-to-Vietnamese goods policy to increase utilisation of rubber, phosphate, urea and DAP fertilisers.
Vinachem has requested the ministry to take drastic measures to stop the sale of poor-quality and fake fertilisers as well as curb trade fraud so that the business environment is healthy. It has called for trade defence measures such as imposing an anti-dumping tax on urea and DAP-imported fertilisers.
Related news
Viet Nam targets vegetable, fruit export value at $3b Viet Nam expects to achieve US$3 billion as its total export value of vegetables and fruits this year, exceeding the vegetable and fruit industry’s target of $2
January agro, forestry, fishery exports drop to $2.54bn The export value of agricultural, forestry and fishery products in January is estimated to witness a year-on-year decrease of 1.4 per cent to US$2.54 billion.
Viet Nam’s vegetable, fruit export value up by 14% in Jan The domestic vegetable and fruit industry in January witnessed a year-on-year increase of 14 per cent in export value to US$230 million, according to the GSO