SINGAPORE (ICIS)--The China government has set new export tariffs for fertilizer products which will take effect on 1 January 2014, the country’s Ministry of Finance (MOF) announced in an official statement on Monday.
The export tariffs for fertilizer products will remain different for peak and off-peak seasons as in the current structure, the statement added.
The export tariff for urea during the peak season in January-June and November-December will be at 15% plus yuan (CNY) 40/tonne ($6.60/tonne), while the tariff for urea during the off-peak season in July-October will be at CNY40/tonne, according to the statement.
The new export tariffs for urea in the peak season are reduced significantly from the current level which is at 77%.
“That means it is possible for domestic producers to export urea during the peak season in 2014,” said a market player.
The peak season for diammonium phosphate (DAP) and monoammonium phosphate (MAP) lasts from 1 January to 15 May, and from 16 October to 31 December, during which, the export tariff will be at 15% plus CNY50/tonne, according to MOF.
The off-peak season for DAP and MAP lasts from 16 May to 15 October and the export tariff will be at CNY50/tonne, it added.
($1 = CNY6.07)