Vietnamese Salt Priced Highest in the World

Thin supply has made salt prices at the domestic market rocket and be priced highest in the world, Vietnamese state media reported on July 7.

 

The Tien Phong (Pioneer) newspaper cited the Agricultural and Forestry Product Processing and Salt Department as saying that price of imported salt to Vietnam is US$70 a ton at seaport, and it is selling for US$100 a ton at domestic market. This price is said to be highest in the world where salt is offered at between US$20 and US$25 a ton on average.

 

The department said the price will continue rising in the near time to come following the consecutive increases of oil price at global market.

 

&ldquoSalt price in Vietnam will surpass US$100 a ton,&rdquo a local salt trader said.

 

An analyst said salt price has risen 300 per cent so far this year, mostly due to strong increase of demand, but low supply.

 

The Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development asked for permission from the government to increase salt import quota by 200,000 tons in 2008, to calm down salt shortage.

 

The department said the country&rsquos total salt import volume will hit 430,000 tons this year.

 

Vietnam&rsquos total salt output in 2008 is estimated at around 900,000 and 950,000 tons, but the country&rsquos demand hit 1.3 million tons. (Pioneer)