Ken Research - Vietnam Complex Fertilizer Demand | Page 2
Vietnam’s food grain production is expected to grow at a CAGR of 1.3% during 2017-
2022 from 621.1 million MT in 2017 to 663.2 million MT by 2022.
In 2015, Ministry of Agriculture issued Action Plan for “Achieving Zero Growth of Fertilizer
Use by 2020”. The Chinese government intends to achieve zero growth in volume of use of
fertilizers and maximize the utilization of the same. By 2020, it hopes to reduce fertilize
usage on its fruits, vegetables and tea crops by 50%. Vietnam plans to replace chemical
fertilizers with organic nutrients that are usually sourced from the decomposition of organic
materials like animal manure, compost, and crop residue. The government is encouraging
use of organic fertilizers by providing subsidies and tax incentives. However, the success of
organic fertilizers replacing chemical fertilizers on a large scale has not been seen yet.
Amidst efforts to achieve zero growth in overall fertilizer usage, nitrogen fertilizers in
Vietnam are increasingly being replaced by complex fertilizers. However, despite the
growing adoption by farmers, much of the domestic NPK production is of low quality.
Growing emphasis on improving fertilizer quality, curbing soil pollution, better land
management practices and urgent need to improve agricultural productivity is expected to
augment the demand for complex fertilizers in Vietnam, according to Analyst at Ken
Research.
Ken Research in its latest study, Vietnam Complex (NPK) Fertilizer Market Outlook to
2022 – NPK 16-16-8 will Continue to be Widely Used Complex Fertilizer suggested that
NPK 16-16-8 was the most widely used complex fertilizer in Vietnam, recording fastest
growth during the last 5 years. Going forward, utilization of NPK 16-16-8 and NPK 20-5-5
are most likely to remain strong owing to balanced nutrient composition and comparatively
cheaper prices.
Average selling prices of NPKs are most likely to improve 2018 onwards owing to recovery
in agricultural commodities’ prices. Complex fertilizers market is anticipated to grow at a
CAGR of 3.4% in next 5 years
Keywords:
Vietnam Complex Fertilizer Demand
Vietnam Complex Fertilizer Consumption
Vietnam Complex Fertilizer Production
Vietnam Complex Fertilizer Market
Vietnam Granulated NPK Consumption
Vietnam Blended NPK Consumption
Vietnam NPK Fertilizer Demand
Vietnam NPK Fertilizer Consumption
Vietnam NPK Fertilizer Production
Vietnam NPK Fertilizer Market
Lam Thao Fertilizers and Chemicals Sales
Binh Dien Fertilizer Best Selling Complex Fertilizer
Southern Fertilizer JSC Production Complex Fertilizer
Japan Vietnam Fertilizer Company Installed Capacity