Fertilizer prices – Fertilizer market today March 26, 2022: URE fertilizer prices are increasing again.

fertilizer prices today, March 26, 2022: URE fertilizer prices are increasing again. Domestic fertilizer prices are increasing following world prices due to the impact of the Russia-Ukraine crisis. In the world market, the average price last week increased by 10% compared to just one week ago and increased by 40% compared to last month. Global urea prices have increased to a record of 1,000 – 1,100 USD/ton. Many opinions say that this is the peak of fertilizer prices. However, most businesses in the industry are not sure because the conflict has not shown signs of ending, so world fertilizer prices do not know where the peak is. As a country that both imports and exports fertilizers, the price increase is both an opportunity for Vietnamese businesses but also a challenge for Vietnamese farmers when affected by the general increase in world prices. According to statistics from the General Department of Customs, in the first two months of this year, domestic enterprises exported a record amount of nearly 353,000 tons of fertilizer, worth nearly 242 million USD; up 72% in volume and nearly 4 times in value compared to the same period last year. The average export price of fertilizer reached 685 USD/ton, up 124.5% over the same period in 2021. Vietnam’s exports increased sharply as countries such as Korea, Malaysia, Myanmar, Philippines, Cambodia… all increased fertilizer imports from Vietnam. Cambodia is still the largest consumer market with 53,133 tons, accounting for 15%. In 2021, Vietnam’s fertilizer exports also reached a record high of 1.4 million tons, worth over 559 million USD, up 16.4% in volume and 64.2% in value compared to 2020. According to the Vietnam Fertilizer Association (VFA), in the coming time, fertilizer imports will continue to be greatly affected because the conflict has not ended. In addition to export opportunities, manufacturers are responsible for farmers, fully exploiting production capacity, meeting domestic market demand and reducing costs. Enterprises also need to proactively seek alternative sources of supply. In addition, farmers need to increase the application of technical measures to reduce the amount of fertilizer while still ensuring productivity. According to Professor, Dr. Vo Tong Xuan, in difficult times, agriculture is always the mainstay of the economy. Now, the sharp increase in fertilizer prices in particular and agricultural materials in general will negatively affect farmers’ income and lives. Therefore, the government needs to pay close attention to management and operation to reduce the impact of excessive price increases. Measures include reducing taxes and fees and restricting exports. We have repeatedly restricted rice exports for food security, so we should also consider restricting fertilizer exports for the same reason. Western Farmers Channel updates the latest market prices of all types of fertilizers every day for you. *********************************************** Thank you for taking the time to watch the channel’s videos. Remember to like and subscribe to the channel to support Western Farmers! ==================== Youtube channel provides information on products, prices, care techniques, and farming techniques of Western Farmers. Follow the Western Farmers channel: Follow the Farmers’ News channel: Follow the Western Agricultural Market Prices channel: Facebook Group: #fertilizer_price #farmer #western #fertilizer_price #fertilizer #fertilizer #potassium_price #agriculture #fertilizer #agricultural materials

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