Market and product

In the first five months of 2026, Vietnam’s fertiliser imports have shown a decreasing trend compared to the same period in 2025 across many key supplier markets, reflecting relatively stable domestic supply, subdued consumption demand, and a general cooling in global fertiliser prices compared to earlier periods. However, the import market structure continues to shift notably, with the share of imports from China and Canada increasing, while supply from Russia, ASEAN, and the EU has declined significantly.

China remains the largest fertiliser supplier to Vietnam. In the first five months of 2026, Vietnam imported 853,550 tonnes of fertilisers from China, worth USD 253.81 million, accounting for 43.54% of total import volume and 34.22% of the country’s total fertiliser import turnover. Although import volume fell by 14.16% year-on-year, the value only dropped slightly by 0.93%, indicating a rising average import price from China. In May 2026 alone, imports from China were 153,310 tonnes, worth USD 47.33 million, a sharp decrease compared to both the previous month and the same period in 2025. Nevertheless, China continues to play the key role as Vietnam’s main fertiliser supplier, thanks to its geographical proximity, product diversity, and stable supply capacity.

Russia remains the second largest supplier, but has seen a considerable decline. In the first five months of 2026, Vietnam imported 204,940 tonnes from Russia, worth USD 102.07 million, down 40.88% in volume and 39.19% in value year-on-year. Russia’s share of total imports dropped from 22.42% to 17.51%. This trend suggests that Russian supply is being affected by logistics costs, global trade fluctuations, and growing competition from alternative sources.

In contrast, Canada has emerged as the fastest-growing supplier among the major markets. Over the first five months of 2026, imports from Canada reached 96,390 tonnes, up 46.8% year-on-year, while the value soared by 73.52% to USD 36.05 million. Notably, in May, imports from Canada spiked as Vietnam increased imports of potash fertilisers to serve domestic agricultural production needs. The rise in Canadian imports underscores Vietnamese enterprises’ shift towards diversifying supply sources to reduce reliance on traditional markets.

As for ASEAN, fertiliser imports have continued to fall sharply. In the first five months of 2026, imports from ASEAN stood at only 183,950 tonnes, worth USD 60.74 million, down 43.44% and 36.86% respectively year-on-year. The share of ASEAN suppliers dropped to 10.42% of total import volume. Within ASEAN, Laos remains the largest supplier with 127,250 tonnes worth USD 45.15 million, though this too marks a significant decrease compared to last year.
Malaysia recorded the sharpest drop, with import volume down by 97.09% and value by 95.91%.

Imports from South Korea continued to contract. In the first five months of 2026, the volume reached 79,990 tonnes (down 17.51%), while the value dropped 30.07% to USD 26.1 million. Similarly, imports from Taiwan were down 26.66% in volume and 27.79% in value, reflecting reduced demand for certain imported fertilisers from these markets in the face of increased competition from other suppliers.

In Europe, fertiliser imports from the EU have also continued to tumble. In the first five months of 2026, imports from the EU reached 30,320 tonnes worth USD 13.35 million, down 43.26% and 39.99% year-on-year, respectively. Belgium remains the EU’s largest supplier, but even there, value dropped more than 38%. This highlights the price and transport disadvantages faced by European fertilisers compared to Asian and North American sources.

Some other markets displayed contrasting movements. Imports from Japan rose by 5.66% in volume but fell by 5.06% in value, indicating a downtrend in average import prices. India maintained positive growth, with volume up 34.42% and value up 31.85%. Conversely, imports from Israel plummeted, with volume slumping 95.55% and value down 81.78% year-on-year.

Vietnam’s fertiliser import market, first five months of 2026

Reference: Average import prices of fertilisers from various markets