PetroVietnam Fertilizer: Fertilizer Price Forecast to Soar late Apr

Fertilizer price will continue rising by the end of April and early May 2009 due to high demand for summer-autumn crop, the PetroVietnam Fertilizer and Chemicals Company (DPM) predicted.

 

The company said localities nationwide may need 650,000-700,000 tons of fertilizers during the upcoming summer-autumn crop.

 

At local market, fertilizer price is on the rise after standing stable in March. In Dong Thap and Kien Giang province, urea price rose by VND240/kilo to VND6,540/kilo; while kali fertilizer price rose by VND200-VND300 to VND12,800-13,000/kilo. Phu My fertilizer is also selling for VND6,300/kilo, up VND300 from January 2009.

 

The company predict the urea price will soar to VND7,300-VND7,500/kilo while price of other fertilizers like Kali, SA, NPK will rise by VND300-VND500/kilo.

 

Many farmers planned to buy a large amount of fertilizer for reserve for the coming crop. (Vietnam & World Economy)