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Sharp export tax rise on fertilizers

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Old 04-18-2008, 10:35 PM
madeinchina madeinchina is offline
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Default Sharp export tax rise on fertilizers

The State Council of China yesterday announced a 100 percent increase in the tax rate of exported chemical fertilizer products.

The customs tax regulation commission of the State Council released the notice yesterday raising the export tax rate to between 100 percent and 135 percent effective the same day

Due to the large demand on the international market, exports of chemical fertilizers made in China continued to mount in January to February. Total exports reached 3.17 million tons
in the two-month period, up 155.2 percent from the same period last year.

Some kinds of fertilizer exports, such as urea, compound fertilizer and ammonium phosphate experienced 120 percent growth in the first two months this year.

Among all exported chemical fertilizers, potassium chloride hit a new high. The product¡¯s export volume from January to February was up by 5,456.92 percent from the same period last year.

Exports of other fertilizers in January to February rose by about 30 to 40 percent over the fi rst two months last year.

The soaring volume of fertilizer exports has affected the farming industry in China.

To ensure cultivation this spring has enough fertilizer and control the excessive growth in its export, the State Council moved to signifi cantly increase the export tax.

The policy also covers ammonium chloride and phosphoric acid, which were exempt from customs tax in the past.

It is believed that the export business of chemical fertilizer products, especially ammonium chloride and phosphoric acid, will be seriously affected by the new tax policy.

Source: Canton Fair News
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