Vietnam to increase fertiliser imports
Vietnam plans to import 11 million tonnes of fertiliser for agricultural production next year, a major increase from this year's total of 10.3 million, according to the Ministry of Agriculture and Rural Development.
Demand for urea stood at 2.2 million tonnes, SA at 900,000 tonnes, NPK at 4 million tonnes and DAP at 1.8 million tonnes.
While domestic producers can satisfy demand for some kinds of fertilisers, they still have to import others, the ministry said.
Vietnam imported 3.81 million tonnes of fertiliser in the January-October period.
Last month alone, the Ministry of Industry and Trade estimated the country's fertiliser imports totaled 450,000 tonnes, a 2% surge over the previous month but a 6% decrease year-on-year.
Urea imports saw the highest rise, surging 98% against the same period last year to 138,000 tonnes.
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Dinh Vu Fertiliser Plant in the northern city of Haiphong has a yearly output of 330,000 tonnes, meeting 30% of domestic demand for DAP. It expects to increase its annual capacity to 660,000 tonnes.
The country has to spend hundreds of millions of US dollars importing over 800,000 tonnes of DAP every year.
The Vietnam National Chemicals Group (VINACHEM) will invest in building a plant with a similar capacity in northern Lao Cai province's Tang Loong Industrial Park. The plant is expected to become operational in 2015.
In 2015, local enterprises will be able to meet 100% of demand for urea, phosphate and NPK, 70-80% of demand for DAP and 30% for SA.