|Fertilizer packages in a storehouse (Photo: VNA)
The Ministry of Industry and Trade has decided to extend the safeguard measure on imported monoammonium phosphate (MAP) and diammonium phosphate (DAP) fertilizers.
The duration for applying this safeguard duty is two years, starting from March 7 this year.
The safeguard duty stands at about 1.05 million VND (46 USD) per tonne in a one-year time starting from March 7, and will drop to 1.03 million from March 7 next year.
It will be 1.01 million VND starting from March 7 to September 6, 2022.
According to the World Trade Organisation, a safeguard measure can be extended up to eight years, subject to a determination by competent national authorities that the measure is needed and that there is evidence the industry is adjustingVNA