Fertilizer Prices in Vietnam Hit Highest Level in 35 Years

Fertilizer prices in Vietnam hit highest level in 35 years

HANOI, March 28 (Xinhua) — Fertilizer prices in Vietnam have increased by 59-300 percent, the highest level over the past 35 years, due to rising material costs and world prices, according to local media on Friday.

In February, prices of super phosphate and nitrogen-phosphate- kalium (NPK) fertilizers increased respectively by 126 percent to 2.5 million Vietnamese dong (VND) (nearly 156.3 U.S. dollars) per ton, and 80 percent to nearly three million VND (187.5 dollars) over the same period last year, newspaper Vietnam News reported.

Meanwhile, costs of diammonium phosphate (DAP) and kalium fertilizers even tripled to 18 million VND (1,125 dollars) per ton and doubled to nine million VND (562.5 dollars), respectively.

The Vietnam Fertilizer Association has proposed the government to cease export of antraxit, a main material for fertilizer production, and facilitate fertilizer producers in terms of loan accession.

Local fertilizer demand is estimated at over 8.3 million tons this year. The country is expected to increase its annual urea fertilizer production capacity to 1.7-1.8 million tons by 2011 from the current 900,000 tons.

Vietnam is estimated to import 999,000 tons of fertilizers worth 375 million dollars in the first quarter of this year, posting respective year-on-year rises of 18.2 percent and 106.1 percent, according to the General Statistics Office.

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