Fertilizer prices rise sharply

(ĐN)- With global fertiliser prices surging and supply plunging in the country, prices have risen sharply in the last three weeks.

Fertilisers are stocked at Dong Nai Agricultural Materials Joint Stock Company

Fertilizer prices have increased by nearly VND 2,000 per kilogramme compared with early August 2011. Particularly, urea fertiliser costs around VND13,000 per kilogramme, DAP fertiliser, over VND 16,000 per kilogramme and Kali fertiliser, over VND 14,000 per kilogramme.

The Fertiliser Association of Viet Nam (FAV) blamed the sharp rise in global prices for the jump in domestic prices.

On the other hand, many fertiliser traders blamed a supply shortfall for the higher price though both imports and domestic production are up sharply this year.

Sharp increases in the prices of fertilizers in the country have started to worry local farmers who are growing rice for the 2011-12 crop year. With current fertilizer prices, local farmers will spend an additional VND 1 million on each hectare of rice field.

Reported by K.M