Philippines - Vietnam's largest cement and clinker consumption market
VOV.VN - The Philippines represents Vietnam's largest market for cement and clinker consumption, reaching nearly 2 million tons worth US$81.56 million, accounting for 26.8% of the nation's total cement and clinker export turnover during the past three months, according to statistics from the General Department of Customs.
During the three-month period, Vietnam exported more than 8.03 million tons of cement and clinker, earning close to US$304.1 million, up 2.3% in volume but down 9.6% in turnover compared to the same period from last year.
In March alone, cement and clinker exports soared by 39.5% in volume, 42.2% in turnover and 2% in price compared to one month earlier, hitting nearly 2.82 million tons, equivalent to nearly US$ 108.48 million.
Throughout the reviewed period, cement and clinker exports to the Philippine market inched up by 2.3% in volume, but dropped by 6.9% in turnover and 9% in price compared to last year’s corresponding period.
Cement and clinker exports to Bangladesh - the second largest consumption market reached 2.22 million tons valued at US$ 69.23 million, while it was followed by the Malaysian market, accounting for 5.3% of the total volume and 4.7% of the total turnover, with more than 423,000 tons, equivalent to US$14.37 million.
According to the Vietnam Cement Association (VNCA), cement and clinker exports in 2024 will continue to face numerous difficulties as the Chinese real estate market has not yet shown signs of recovery, while Chinese cement is also in surplus and is expected to compete with Vietnamese cement at export markets such as the Philippines, Central America, and South Africa.
Notably, domestic cement output will continue to exceed demand this year, with the domestic market predicted to consume roughly 60 - 62 million tons. Therefore, the export channel is still promoted by local businesses in a bid to handle an output of about 30 million tons.
Some businesses are currently expanding their markets, shifting to regions such as the US, Australia, North America, South America and Africa in order to reduce dependence on some traditional markets.
Cement and clinker exports suffered a sharp fall in the first quarter of 2024 due to China’s reduced imports. In addition, the Philippine market still applies anti-dumping tax protection policies on cement imported from Vietnam.
