June 7, 2012

China holds position as Vietnam's major pesticide source

China is the largest pesticides exporter to Vietnam, accounting for 45% of Vietnam's total pesticide imports spending from January to April 2012, according to the Ministry of Finance's General Department of Customs.

During Jan-April, Vietnam spent US$94.9 million on importing pesticides and material for pesticide production from China, up 13.88% on-year, the state agency reported.

Singapore ranked the second with a lower value of US$21.3 million, up 39.8% on year.

Pesticide imports of Vietnam from South Korea, Taiwan, and Switzerland surged 68.8% and 41.06%, and 11.5%, respectively.

Vietnam spends around US$500 million on importing pesticides and materials every year, mainly insecticides, fungicides and herbicides. Imports of insecticides account for 60% of total value of Vietnam's spending on pesticides.

Over 300 companies are involving in Vietnam's pesticide market, said the Ministry of Agriculture and Rural Development's Plant Protection Department.

Seven foreign-invested firms control 50% of the market share and the local companies hold the remaining shares.