Global fertilizer prices surged during the first eight months of 2025 before correcting from mid-August, driven by China’s relaxation of export restrictions and the delayed pass-through of declining input gas prices into market prices. Industry earnings recorded solid growth in 2025, supported by resilient consumption and margin expansion over the first three quarters.

Overall assessment of sector performance Sector earnings began to decelerate from late Q3 as both sales volume and selling prices weakened simultaneously, while surging gas prices continued to pressure profit margins. Domestic Market Conditions : Fertilizer consumption remained subdued as large areas of rice and crop farmland — along with sowing activities across multiple northern and central provinces — suffered extensive damage following recent storms. In October, subdued e

In October 2025, export turnover contracted sharply (-26% YoY and -44% MoM) as both export volume and average export prices weakened simultaneously. The average export price declined by nearly 11% compared with the previous month, in line with global price movements. Export volumes, after flattening in September, fell significantly in October, down -37% MoM and -31% YoY. The decline was broad-based across most markets — including traditionally resilient destinations such as C

The Vietnam Fertiliser Association proposed to reduce the export tax on urea fertilizers to zero to increase the competitiveness of exports.

Good news for shareholders of DPM, DCM, and fertilizer businesses in general. This is an important step in supporting NPK fertilizer

Production output of the fertilizer industry gradually recovered after 1 month of opening the economy.