NDRC warns against fertilizer price rises

The National Development and Reform Commission (NDRC) set a maximum range for mark-ups on imported fertilizer yesterday while warning domestic companies not to raise prices of key fertilizer ingredients, Reuters reported. "In order to curb inappropriate price gains, protect farmers’ profits and promote agricultural productivity, we are strengthening control over potassium chloride and compound fertiliser prices," the NDRC said in a statement on its website. Concern over rising prices prompted the move, which restricts mark-ups by importers Sinochem and Sinoagri to domestic fertilizer producers to 5%. Last month, China raised export taxes on fertilizer by up to 100% in an attempt to boost the country’s agricultural sector.