Surplus lowers fertiliser costs

The price of fertiliser will continue to fall because of a drop in global prices and abundant supply, according to the Viet Nam National Chemical Corporation (Vinachem).

Fertiliser prices fell by 10-15 per cent last month compared to October.

NPK fertiliser now costs VND520,000 (US$30.5) per 50kg bag, a drop of VND110,000 compared to last month.

And the price of urea fertiliser is now VND270,000 per 50kg bag. It cost VND470,000/50kg bag in August when fertiliser prices reached a peak.

The quantity of imported fertilisers had also increased since October, said Vinachem.

A total of 174,000 tonnes of fertiliser was imported in October, an increase of 30.9 per cent compared to September.

According to the Ministry of Agriculture and Rural Development, the country used about 8.3 million tonnes of fertiliser this year. Approximately 5.4 million tonnes were produced domestically and 2.9 million tonnes imported.

By the end of October, the country had imported a total of 2.8 million tonnes of fetiliser worth a total of $1.39 million.

Viet Nam News, vietnamnet

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