H1 2022 fertiliser exports beat 2021 target
VOV.VN - The country's fertiliser exports in the first six months of the year reached 998,000 tonnes, earning US$647 million, up 43% in volume and 2.8 times in value compared to the same period from last year.
Notably, the export value in the six months surpasses the similar value recorded for the whole year 2021, according to the General Department of Vietnam Customs.
Last year Vietnam shipped approximately 1.4 million tonnes of fertilisers abroad for US$559 million.
In the first half of 2022, the average price rose 1.8 times to US$646 per tonne compared to the same period from 2021.
June 2022 alone saw businesses ship 217,000 tonnes of fertiliser abroad worth US$147 million, up 64% in volume and 68% in value from May.
The sharp increase was attributed to businesses’ efforts to promote sales when the global fertiliser supply was scarce, fueling prices.
Many Vietnamese businesses moved to increase exports amid soaring prices, helping their six-month operations exceed plans.
The Vietnam National Chemical Group (Vinachem) announced its turnover stood at roughly VND33 trillion in the first half of the year, up 26% year on year and reaching 63% of this year’s target.
Throughout the reviewed period, Vinachem also recorded a high profit of over VND4 trillion, exceeding the VND3.5 trillion recorded for the whole 2021.
Most notably, revenue from fertiliser was estimated to be VND19,435 billion, up 46% from the same period last year and accounting for 60% Vinachem’s total revenue.
