Rep. Yoon Jae-gap (Haenam, Wando, Jindo) of the Democratic Party of Korea belonging to the National Assembly’s Agriculture, Forestry, Livestock Food, Marine and Fisheries Committee announced today (10th) emergency measures for the supply and demand of fertilizer raw materials. I strongly urged the government.
Korea relies heavily on China (48%) for urea imports.
However, China has reduced urea production due to strengthening environmental policies for the 2022 Winter Olympics and restricted exports by stockpiling domestic fertilizers.
Accordingly, compared to the end of 2020, as the prices of fertilizer raw materials such as urea (206%), ammonia (214%), diammonium phosphate (108%), and potassium chloride (178%) have recently increased, the farmer’s burden due to the increase in fertilizer prices is 4,000. It is expected to be 427 billion won.
Rep. Yoon Jae-gap pointed out, "In order to secure urea before next year's farming season, we need to sign a contract as soon as possible, but it is realistically difficult for a private company to secure a supply through negotiations with an importing country."
He then asked the party government to "join the government and the NACF to jointly purchase raw materials."
In the upcoming kimjang season, as the amount of kimchi vegetables (onion, pepper, garlic) such as pickled cabbage will increase, he urged that special measures should be taken to prevent logistic disturbances in rural and fishing villages due to the amount of urea.