Fertilizer prices today March 12, 2022: Urea and Potassium prices continue to increase sharply

fertilizer prices today, March 12, 2022: Urea and Potassium prices continue to increase sharply. Traders/agents are asking to buy more Urea and DAP goods due to concerns about sharp price increases following the world price trend, but transactions are still quite limited. Potassium prices offered in Vietnam this week exceeded the record level at the end of 2021. Russia-Ukraine war, millions of Vietnamese farmers face crisis Every year, Vietnam imports about 130,000 – 380,000 tons of fertilizer from Russia, accounting for about 3-9.5% of the total import volume, equivalent to 5-11.9% in value, mainly importing potassium, NPK and DAP fertilizers. The amount of potassium fertilizer imported from Russia alone is about 68,000-200,000 tons/year, accounting for 7.2-18.6% of the total import volume of this type of fertilizer. In 2021, the amount of fertilizer imported from Russia was 320,000 tons, accounting for 6.27% of the total amount of imported fertilizer; of which, the largest import was potassium with over 195,000 tons, accounting for over 15% of the total amount of imported potassium. In the first two months of 2022, Vietnam imported 706,769 tons of fertilizer. The amount of fertilizer imported from Russia alone was over 73,800 tons, worth over 40 million USD, accounting for over 10% in volume and nearly 12% in value compared to the total amount of imported fertilizer; of which, the largest import was potassium fertilizer, accounting for over 18% of the total amount of imported potassium. Currently, Vietnam is in the harvest stage and will start a new crop from the first half of April. The North has entered the winter-spring rice fertilization season, so the demand for fertilizer is gradually increasing. However, businesses predict that there will be a serious shortage of imported DAP 64% in the second quarter and the possibility of domestic prices rising to 25 million VND/ton. For potassium, because 100% depends on imported goods, the congestion of goods from Russia and Belarus will soon cause the price of this item to reach 15-16 million VND/ton for powder and 18-20 million VND/ton for fine grains. According to experts, the sharp increase in fertilizer prices has caused farmers to fall into crisis, pushing up production costs. In fact, many farmers have the mentality of abandoning their gardens and not taking care of their crops because production costs are high, while the selling price of agricultural products is very low. ************************************************ Western Farmer 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 about 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

source