Illustrative image (Photo: VNA)
The imported DAP and MAP fertilisers are subject to self-defence tariffs in accordance with the Law on Foreign Trade Management and the World Trade Organisation’s regulations.
The MoIT also consulted State management agencies, including the Ministry of Agriculture and Rural Development (MARD), about the review.
Accordingly, the tariffs will be lower and applicable for shorter time than those ruled by the WTO. They will be gradually reduced according to the schedule, towards maintaining a competitive environment to bring benefits to fertiliser consumers.
The MoIT is also working with ministries and agencies concerned to closely track the world prices of DAP and MAP fertilisers as well as input materials.
DAP fertiliser prices have recently increased due to several external factors such as hike in prices of input materials and transportation services. Domestic demand for it basically does not rise compared to previous years.
Additionally, prices of domestically-made DAP have not gone up, contributing to containing its common price increase.
Therefore, self-defence measures are necessary to bring a fair competition environment for domestic and imported goods.
The MoIT will continue partnering with the MARD and relevant units to review self-defence measures objectively and comprehensively in line with the law./.