Fertiliser prices to continue growth this year

Rising fast: A farmer is seen harvesting cabbage in the outskirts of Hanoi. The sudden increase in fertiliser prices in 2021 in Vietnam was due to the higher price of raw materials for production, including a strong increase in the price of sulfur. — AFP

HANOI: Fertiliser prices are expected to increase this year so the Ministry of Agriculture and Rural Development must have solutions to stabilise the domestic fertiliser market.

In the latest report, Ban Viet Securities Joint Stock Company (VCSC) has forecast that the average global urea price would reach US$625 (RM2,613) per tonne in 2022, up 25% compared to 2021.