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The Sharp Increase In Fertilizer Prices Has Caused Many Difficulties In The Agriculture Production
Table Of Contents
Table Of Contents
The impact of the COVID-19 epidemic has disrupted many supply chains around the world, causing the price of raw materials to rise, affecting the product prices of many commodities, including input prices of the agricultural industry. Most recently, the sharp increase in fertilizer prices has caused many difficulties in the production of farmers.
Accordingly, in the first week of November 2021, the world fertilizer prices increased by 9-36%. The prices of all kinds of fertilizers have reached an unprecedented record high in history due to problems related to the supply chain, the price of natural gas, coal, oil, transportation charges... so high.
The world fertilizer price continues to increase, making the increase in domestic fertilizer price inevitable. The price of some fertilizers in the country has doubled in the past year, of which 3-color NPK mixed fertilizer currently costs more than 900 000 VNĐ/bag (50kg), high one-color (imported) has a high price from 1.05-1.2 million VND/bag. Particularly for single fertilizers such as nitrogen, phosphorus, potassium, increased from 9,000 VND/kg to 18,000 VND/kg, DAP compound fertilizer from 12,000 VND/kg increased by 25,000 VND/kg… Besides, food protection drugs objects increased by 15-20% compared to before.
Regarding the domestic and international fertilizer market prospects, with the fact that the energy crisis is not over yet, combined with the supply chain bottlenecks, freight rates establish a new price level, high energy prices, Covid-19 pandemic, rising global inflation... the fertilizer market is forecasted to continue in a tight supply situation, prices are forecast to still anchored high.
Vinacontrol is an inspection organization authorized by the Ministry of Agriculture and Rural Development to carry out State inspection of imported fertilizer quality in accordance with the Government's Decree 84/2019/ND-CP dated November 14, 2019, on fertilizer management.
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