17 December 2012 08:08 [Source: ICIS news]
SINGAPORE (ICIS)--China has set new export tariffs for fertilizers products that will take effect on 1 January 2013, the country’s Ministry of Finance announced on Monday.
During the off-peak season – from July to October – a 2% tariff applies if the export price is not higher than the base prices set by the government.
The base price for urea was specified at yuan (CNY) 2,260/tonne ($362/tonne) for urea, the ministry said in a statement.
For higher priced urea exports, the tariff will be calculated at a formula prescribed by the government.
During the peak season for urea in the January-June period and November to December period, a 75% special tariff would apply on top of the 2% regular tariff. For diammonium phosphate (DAP) and monoammonium phosphate (MAP) products, the export tariff will be 5% during the off-season, provided the prices do not exceed the prescribed limit.
China has set the base price for DAP at CNY3,500/tonne, and for MAP at CNY 3,200/tonne, the ministry said.
For higher-priced DAP and MAP, the tariff will be computed using a fixed formula, it said.
The peak season for DAP and MAP lasts from 1 January to 15 May, and from 16 October to 31 December, during which time, the special export tariff of 75% will apply as well as the 5% regular tariff.
For nitrogen phosphorous potassium (NPK) exports, on the other hand, an 80% export tariff will be implemented throughout 2013, the ministry said.
($1 = CNY6.25)
Additional reporting by Natalie Hui
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