More than 280,000 tons of nitrates have been transported to Northern Vietnam to stabilize the market as per the Petro Vietnam Fertilizer and Chemicals JSC Company, in addition to maintaining 700,000 tons of fertilizer in its stock.
Price of fertilizer has shot up as farmers in the Northern provinces begin preparation for the winter-spring crop.
According to statistics, the country requires around 800,000 tons of fertilizer for the winter-spring crop. Currently companies have over 750,000 tons of stock ready to meet the increasing demand without inflating the price.
Fertilizers are not being imported at the moment as the country has enough stocks to meet with demands both in the North and South of Vietnam.
50 percent of the nation’s demands for fertilizer are met by PVFC Co, while the rest is imported from China, Middle East, Russia and Ukraine.