Ministry expects China's potash fertilizer import to drop in 2006

China's potash fertilizer imports are expected to drop to 7 million tons in 2006, according to a report released by the Ministry of Commerce on Friday.

China's potash fertilizer import has been growing fast in recent years. China, the world's second largest potash fertilizer importer, imported 8.83 million tons of potash fertilizer in 2005, accounting for 19.9 percent of the global trade volume, according to the ministry's figures.

The ministry based its prediction on the stable growth of domestic potash fertilizer output and an increasing stockpile.

China's potash fertilizer production totaled 2.6 million tons in 2005, and is expected to rise to 3.1 million tons in 2006, the report said.

China's huge demand caused the price hike of imported potash fertilizer in recent years. In 2005, the import price of potash fertilizer for China was 206 U.S. dollars per ton, almost double from that in 2003.

As the fertilizer import decreases this year, the import price will also drop to a reasonable level, the report said.

Source: Xinhua