Vietnam Ammonium Sulphate Import Research Report 2024-2033

Vietnam Ammonium Sulphate Import Research Report 2024-2033

Ammonium sulphate is primarily used to meet the nitrogen and sulphur nutrient needs of crops during their growth and is considered a high-quality, cost-effective sulphur fertilizer. Sulphur plays various physiological roles in plants, such as participating in protein synthesis. As an ammonium nitrogen fertilizer, ammonium sulphate can be used as a topdressing, seed fertilizer, and base fertilizer, offering quick and stable effects. It is one of the earliest nitrogen fertilizers applied, suitable for various soils and crops, enhancing vigorous growth of branches and leaves, improving fruit quality and yield, and boosting crop resilience to disasters.

Due to its high critical humidity temperature, ammonium sulphate is particularly suitable for rice cultivation. According to the analysis of CRI, rice is the most important staple crop in Vietnam, with a planting area exceeding 700 hectares. Rice is the main food for the Vietnamese, accounting for 90% of total grain consumption, resulting in a huge and rigid demand for ammonium sulphate in the domestic market of Vietnam.

Vietnam is an agricultural powerhouse, where agriculture plays a significant role in the national economy and is one of its backbone industries. In 2023, agriculture contributed 12% to Vietnam's real GDP growth, with more than 50% of the population in rural. Arable and forest land make up 60% of Vietnam's total land area. The analysis of CRI has reported that, due to limited domestic fertilizer production capacity, Vietnam needs to import 3-4 million tons of fertilizers annually. Vietnam is one of the largest users of chemical fertilizers globally, heavily relying on imports, with annual chemical fertilizer usage approaching 7.7 million tons. The ammonium sulphate market of Vietnam relies heavily on imported products.

According to CRI, the overalTrend of the fertilizer market in Vietnam has been upward over the past five years, with an annual apparent consumption exceeding 6 million tons and a market size of over US$ 2 billion annually. Nitrogen fertilizers are among the most imported fertilizers in Vietnam, accounting for nearly 30% of total fertilizer imports, with an import value of about US$ 300 million, surpassing 20% of the total fertilizer import value. Ammonium sulphate is the most widely used nitrogen fertilizer in agriculture, with Vietnam importing ammonium sulphate worth approximately US$ 180 million in 2023. From January to May 2024, Vietnam has already imported nearly US$ 100 million worth of ammonium sulphate based on the data of CRI, indicating a continued growth trend in market demand.

Agricultural product exports are also a major source of Vietnam's trade surplus. In 2023, Vietnam's agricultural product export value reached US$ 53 billion, with internationaTrade surplus accounting for 42.5% of Vietnam's totaTrade surplus. The analysis of CRI expects Vietnam's agricultural exports to exceed US$ 55 billion in 2024, with rice exports likely to surpass 8 million tons. Given the rapid expansion of agricultural production capacity in both international and domestic markets, the demand for ammonium sulphate is also rising.

According to CRI, the main sources of ammonium sulphate imports in Vietnam from 2021 to 2024 include China, Japan, etc. Key companies exporting this product to Vietnam are CONG TY HUU HAN THUONG MAI CAM THANG HA KHAU, Fibrant (Shanghai) Chemical Co., Ltd., and Sojitz Corporation. Major importers of ammonium sulphate in Vietnam include local fertilizer distributors and logistics companies, as well as foreign enterprises. Those importers include Thuy Ngan Trading Company Limited, Japan Vietnam Fertilizer Company, Agricultural Products and Materials Joint Stock Company, etc.

Overall, with the growing population and continuous agricultural development in Vietnam, the demand for ammonium sulphate will continue to increase. CRI forecasts that from 2024 to 2033, the import volume of ammonium sulphate in Vietnam will continue to rise, playing an important role in stabilizing and boosting agricultural production in the country.

Topics covered:

• The Import and Export of Ammonium Sulphate in Vietnam (2021-2024)
• Total Import Volume of Ammonium Sulphate in Vietnam (2021-2024)
• Total Import Value and Growth Rate of Ammonium Sulphate in Vietnam (2021-2024)
• Total Import Value and Growth Rate of Ammonium Sulphate in Vietnam (January-May 2024)
• Average Import Price of Ammonium Sulphate in Vietnam (2021-2024)
• Top 10 Sources of Ammonium Sulphate Imports in Vietnam and Their Supply Volume
• Top 10 Suppliers in the Import Market of Ammonium Sulphate in Vietnam and Their Supply Volume
• Top 10 Importers of Ammonium Sulphate in Vietnam and Their Import Volume
• How to Find Distributors and End Users of Ammonium Sulphate in Vietnam
• How Foreign Enterprises Enter the Fertilizer Market of Vietnam
• Forecast for the Import of Ammonium Sulphate in Vietnam (2024-2033)