Dat Viet newspaper – That was confirmed by Mr. Cao Hoai Duong, President & CEO of Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo) during an exchange with the press recently.
According to Mr.Duong, in the first few months earlier this year, the domestic fertilizer market has experienced abnormal fluctuations,swingingfrom this end to the other, from“hot” to“cold” and from“cold” to “hot” very abruptlydue to undersupply. Inthe 1st Quarter of 2012, the volume of fertilizer stockpiling was a record high, by over 55% year-on-year. But right after that, fertilizer prices escalated and temporary shortage was seen at some locations, especially in Mekong Delta. The reason was because of rainy season, PVFCCo’s fertilizer transport encountered much difficulty,at the same time, as a result of high interest rate, businesses restrained imports. In addition, some fertilizer plants such as HaBac, CaMau, Ninh Binh were behind schedule in operation, leading to urea undersupply at many locations throughout the country, resulting in price hike.
