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Export tariff cut boost the domestic fertilizer industry
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| Business community on November 19 hearing in 2008, five consecutive Fertilizer export duties raised after the November 12, Chinese Premier Wen Jiabao chaired a State Council executive meeting, decided December 1, 2008 onwards, in the reduction of nitrogen, phosphate, etc. |
Business community on November 19 hearing in 2008, five consecutive Fertilizer export duties raised after the November 12, Chinese Premier Wen Jiabao chaired a State Council executive meeting, decided December 1, 2008 onwards, in the reduction of nitrogen, phosphate, etc. and some of its export tariffs on raw materials, while adjusting urea, monoammonium phosphate, diammonium phosphate fertilizer products such as export duties levied way.
The tariff reduction in time for the December 2008 to the end of 2009, the peak season from February to May, 2009 8-October, the rest of the season.
China Petroleum and Chemical Industry Association Deputy Secretary-General Feng Shiliang that the effect of lower tariffs on fertilizer exports, at least a month or two to surface.
Feng Shiliang said the tax adjustment method refers to the implementation of short, high season, ranging from 10% -110% difference in rate of fertilizer to the domestic supply-demand season, low season may be appropriate to reduce the tax rate to encourage exports. This is the first implementation of the export of chemical fertilizers short, differences in tax season.
Yuntianhua Co., Ltd. (Shanghai Stock Exchange code: 600 096, hereinafter referred to as the sky of) Korea-tao, head of market research told the "financial" press, the financial crisis has little effect on agriculture, fertilizer demand will not decline sharply, fertilizer export duties down in favor of domestic fertilizer industry.
Han Tao said the introduction of this policy will help ease the inventory Yuntianhua pressure. September 2008, the sky of inventory pressure, taken after the cut, stocks still increased by about 1 million tons over the same period.
Since 2008, China's export tariffs on fertilizer five times adjusted, in January 2008, February and April on the part of the fertilizer export levy provisional tariffs; April 20 to September 30 for all exports of fertilizer in the existing export tax rate basis to levy 100% special export tariff; September 1 to December 31, nitrogen and ammonia will be raised the export tariff of 150%.
Chinese Customs data show that in August 2008, China's fertilizer exports 291,000 tons, down 72%, decreased 36%, export volumes with new low.
Han Tao said the fertilizer export tax reduction on the impact of different varieties. At present, the international market price of urea at about 250 U.S. dollars / ton, the domestic price of around 1600-1700 dollars, do not have the advantage, even if the tax of 10% minimum tax rate, exports are still difficult. He predicted, December 2008-January 2009, into the international traditional fertilizer procurement period, the export or transfer of urea.
As the phosphate international and domestic spread, so the tariff reduction will promote the export of phosphate. "The role of tariff reduction have been shown the" Han Tao said, "Today (November 17) ethylamine phosphate prices have risen by about 1,000 yuan / ton." Spring stocking many manufacturers in the coming year, demand will soon recover.
Sinofert Holdings Limited (HKEx code: 00297, hereinafter referred to Sinofert) told the "financial" journalists, reduced tariffs on fertilizer industry, is good news, but have little impact in the short term is difficult to predict.
He said that the basic stagnant exports of fertilizer in the first half. More than 90% of chemical fertilizer in the market in the country, fertilizer exports accounted for only about 5% of its sales. |
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