June 30, 2022 | 11:33 GMT +7

  • Click to copy
Sunday- 18:53, 24/04/2022

Several fertilizer types might reach unprecedented heights

(VAN) Fertilizer prices have been rising at a rapid pace in the second half of April, and they are expected to continue to rise in the third quarter of this year.
Prices of some fertilizers are forecasted to set new peaks in the third quarter. Photo: TL.

Prices of some fertilizers are forecasted to set new peaks in the third quarter. Photo: TL.

On April 22, the retail price of Chinese DAP was VND 1,340,000 per pack, compared to VND 1,120,000 for domestic DAP. Potash was VND 975,000 per pack, and Urea was VND 910,000 per pack.

Fertilizer costs are expected to continue to rise in the coming time, particularly for DAP and Potash. DAP's products sold out owing to an inconsistent supply source and low inventory, while imports were difficult due to restricted supplies in the worldwide market.

Russia may extend fertilizer export quotas until the end of the year rather than May, although fertilizer shipments to hostile nations are still prohibited. The Middle East continues to face an ammonia scarcity, while China continues to reduce fertilizer capacity, with many facilities operating at less than 50% capacity, resulting in environmental issues and input material shortages.

As a result, international fertilizer supplies are difficult to increase at a time when China and Russia are threatening to tighten export restrictions. Facilities' input materials, particularly sulfur and ammonia, are increasing, leaving manufacturers with no incentive to lower costs.

In light of the scenario, Mr. Vu Duy Hai, Director-General of Vinacam, predicts that the price of imported DAP 64 would increase to VND 28-30 million per ton in the third quarter of this year.

The domestic source of Potash inventory is also running out, forcing Vietnam to buy at the new world market price. As a result, the price of Potash is expected to reach VND 20-22 million per ton for powdered Potash and VND 23-25 million per ton for Potash flakes by the third quarter of this year.

Author: Thanh Son

Translated by Linh Linh

Fertilizer production 'suffocated' because of the shocking increase in coal prices by over 54%

Fertilizer production 'suffocated' because of the shocking increase in coal prices by over 54%

(VAN) A series of fertilizer enterprises had just sent an official letter to the Vietnam Coal and Mineral Industries Group (TKV) when this unit continuously increased the price of coal to dizzying.

Tea production and price declines push farmers into hardship

Tea production and price declines push farmers into hardship

(VAN) In addition to a fall in yield, farmers in Ha Tinh also suffered greatly from a decline in purchasing power and a low selling price.

Prices of Bac Giang lychee higher than the average of previous years

Prices of Bac Giang lychee higher than the average of previous years

Farm-gate price of Bac Giang lychee is between VND25,000 and VND35,000 per kilo, higher than the average of previous years. Especially, sales of early-ripening lychee in Tan Yen district have reached their highest ever level.

Dragon fruits in short supply as prices climb

Dragon fruits in short supply as prices climb

(VAN) White dragon fruit in Binh Thuan is now purchased at high prices averaging VND20,000 per kilo. However, dragon fruit growers nearly run out of supply because of low production

African swine fever vaccine is expected to cost 35,000 VND/dose

African swine fever vaccine is expected to cost 35,000 VND/dose

(VAN) According to the head of National Veterinary Joint Stock Company (Navetco), the African swine fever vaccine is expected to be priced at 35,000 VND/dose.

The cultivation of Malaysian coconuts should be carefully developed in Tien Giang

The cultivation of Malaysian coconuts should be carefully developed in Tien Giang

(VAN) The local authorities in Tien Giang Province have recommended farmers should not extensively develop the cultivation of Malaysian coconuts in the region.

Price rise of tra fish in Mekong Delta becomes both a joy and bother

Price rise of tra fish in Mekong Delta becomes both a joy and bother

(VAN) Currently, the price of material tra fish in the Mekong Delta is growing, but people are hesitant to expand their farming areas because of lingering concerns of a price decline.

Read more