The government has announced that it will eliminate import duties on urea and its mixtures with ammonium nitrate. Economy Minister X posted it on his social network, Luis Caputo. “Attentive to the needs of the industry and in order to improve its competitiveness,” the official said.
In particular, he reported that we will proceed with “the elimination of the tariffs applied to urea and its mixtures with ammonium nitrate, which currently stand at 5.4 and 3.6%”.
Attentive to the needs of the sector, and to improve its competitiveness, we will continue to eliminate the tariffs applied to urea and its mixtures with ammonium nitrate, which currently stand at 5.4 and 3.6%.
This measure will have a direct impact on…
— totocaputo (@LuisCaputoAR) April 10, 2024
“This measure will directly impact agricultural producers across the country and will add to the benefits generated by the ordering of economic variables, which allowed the cost of these critical inputs to the agricultural producer to fall from $830 as of February 15 to $830 dollars. 570 today,” Caputo said.
In 2023, fertilizer consumption was 4.5 million tons, 4% less than in 2022 due to drought. Of the total, 65% corresponded to imported products, mainly urea and MAP (phosphorus), with Morocco, the United States, Egypt and China as the main countries of origin.
Regarding the composition of fertilizer consumption in 2023, it was observed that 56% corresponded to nitrogenous products, followed by phosphate products with 37%, sulfur products with 3%, potassium products with 1% and the remaining 2% for the other groups.
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Source: Clarin
