Vietnam is estimated to import nearly 2.4 million tons of fertilizers valued at 508 million U.S. dollars in the first nine months of this year, posting respective year-on-year increases of 18.1 percent and 15.3 percent.

In the period, the country is set to import 566,000 tons of urea worth 138 million dollars, mainly from China, up 3.4 percent in volume but down 1.5 percent in value, according to Vietnam's General Statistics Office on Friday.

Vietnam's demand for fertilizers is expected to stand at 7.8-8 million tons, including some 2.1 million tons of urea and over 2.2 million tons of nitrogen-phosphate-kalium fertilizer in 2006, sources at the Ministry of Agriculture and Rural Development said, noting that the country will have to import more than 2.5 million tons of fertilizers, including over one million tons of urea, in the year.

Vietnam, home to over 150 fertilizer producers each with an annual capacity ranging from 500 tons to one million tons, imported over 2.9 million tons of fertilizers worth 648 million dollars in 2005, down 28.7 percent and 21.4 percent respectively from 2004, said the office.

Source: Xinhua