Fertilizer prices are soaring in the Mekong Delta although demand has declined in this mid-Winter-Spring crop.
|Fertilizer prices are soaring in the Mekong Delta (Photo: H.Y.)|
Diammonium phosphate fertilizer (DAP) was retailed at VND90,000-120,000 (US$5.6-7.5) per 50-kilogram sack yesterday, and kali and urea fertilizer went up by VND15,000-25,000 (US$0.9-1.5) per sack.
DAP from China jumped to VND650,000 per sack and VND14,000 per kilogram, and nitrogen phosphor potassium compound fertilizer (NPK) skyrocketed to VND550,000-560,000 (US$34-35) per sack.
Le Quoc Phong, director of Binh Dien Fertilizer Company and Vice President of the Viet Nam Fertilizer Association, attributed the fertilizer price hike to the sharp rise in global oil and fertilizer prices.
He added that DAP soared sharply because sulfur rocketed to US$600 per ton from US$100.