Vietnam's fertilizer import up in Q1

Vietnam imported 714,000 tons of fertilizers worth 149 million U.S. dollars in the first quarter of this year, seeing respective year-on-year rises of 29.9 percent and 28.5 percent, according to the Vietnamese General Statistics Office on Monday.

Between January and March, Vietnam spent 29 million dollars importing 114,000 tons of urea, mainly from China, Indonesia, Russia and the Middle East, down 26.5 percent and 22 percent, respectively, said the office.

Vietnam's total demand for fertilizers in 2007 is estimated at nearly 7.9 million tons, including 1.8 million tons of urea, and domestic supplies are likely to stand at 4.7 million tons, according to the country's Trade Ministry.

Vietnam imported over 3 million tons of fertilizers, including 708,000 tons of urea, totaling 673 million dollars in 2006, up 5.9 percent and 5.1 percent respectively, compared with the same period of 2005.

The country, home to over 150 fertilizer producers with each annual capacity ranging from 500 tons to one million tons, has planned to build four major fertilizer plants with a combined annual capacity of nearly 1.8 million tons in the 2005-2010 period, according to the Vietnam Fertilizer Association.

Source: Xinhua