After a long period of local price increase, fertilizer price has become stable over the past few days.
In Mekong River Delta, Thu Dung Vendor, Ben Tre province, said that the maintenance of Phu My Urea Plant was now completed, fertilizer supply was continuous, and fertilizer market in the region had become stable. Selling prices offered to farmers are currently as follows: urea fertilizer: 8,400-8,800 VND/kg; Potassium: 8,600 - 8,700 VND/kg; EU DAP: 12,800 - 12,900 VND/kg (subject to each type and delivery place).
In Central provinces, most of the regions have completed 2nd fertilization phase on cereal crop while others have even proceeded to 3rd phase; therefore, fertilizer price is low and price of urea fertilizer is decreased by 100-200 VND/kg. Similarly, in the Highland, farmers have completed 1stfertilization phase on coffee and fertilizer demand is declining when the region is preparing for 2nd phase.
Besides, after a period of rapid price increase, urea price in the past week has been decreasing slightly in most markets. Specifically, in China, both bid price and domestic price have been slightly decreased; and when summer season is estimated to end in mid-July, export supply is expected to increase after that. In Russia market (Yuzzny), urea price was decreased to 285 USD/ton FOB; demand is low, especially in the Europe. In the past week, packages in Sri Lanka showed a clear decreasing trend of world urea price when bid prices were nearly 11 USD/ton less than previous month ones.
The representative of PetroVietnam Fertilizer and Chemicals Joint Stock Company (PVFCCo), the manager and operator of Phu My Urea Plant, said that after a down period for periodic maintenance, Phu My Urea Plant returned to normal operation since June 20, 2015 and reached the maximum capacity (approx. 2,400 ton/day). This whole production was urgently delivered to the regions. In 6 beginning months of 2015, PVFCCo provided to the market nearly 440 thousand ton of Phu My Urea and more than 200 thousand ton of other fertilizers. In the last July 07, nearly 27,500 ton of Phu My Potassium, imported by PVFCCo, arrived at the port, and were being quickly packed and delivered to consuming regions to timely respond to farmers" needs.
Besides, it is estimated that more volume imported by other firms from China and Indonesia will soon arrive at the port in mid-July. So, domestic fertilizer supply will become rather abundant in the upcoming time and price is predicted to remain stable.