Phosphate Prices in 2008 Winter-Spring Crop Predict to Soar by 12 per cent
Prices of phosphate are predict to surge sharply in 2008 winter-spring crop as the Vietnam Coal and Mineral Group (Vinacomin) said it will increase prices of coal for fertilizer production by 75.7 per cent and prices of coal dust by 46.4 per cent from January 2008.
The increases of coal prices will force local fertilizer producers to raise their prices in order to avoid losses.
Vietnam is forecast to need 247,000 tons of phosphate per month.
The Vietnam Chemical Group (Vinachem) said it is now able to meet the demand, but prices will increase by 12 per cent, or around 150,000-160,000 per ton.
Currently, prices of almost all kinds of fertilizers are rocketing in Mekong Delta provinces. Prices of urea fertilizer are rising by VND30,000 per bag; DAP fertilizer, by VND60,000-70,000 per bag from several weeks ago.
Mekong Delta provinces are estimated to have cultivated 1.65 million hectares of paddy for 2007-2008 crop. (Liberated Saigon)
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