On October 10th, 2012, China Ministry of Commerce (MOFCOM) has published importing quotas of fertilizer for FY2013. Totally 13.65 million tons of fertilizer will be alloted to domestic importing companies, consisting of 3.3 million tons of urea, 6.9 million tons of DAP, and 3.45 million tons of compound fertilizer.
The MOFCOM asked the qualified importers to apply their quotas from relevant administrations. The state-owned importers such as Sinochem and Sino-Agri can accumulatively claim 2.97 million tons of urea, 3.52 million tons of DAP and 1.76 million tons of compound fertilizer. While the CNCCC (China National Chemical Construction Corporation) and Huaken International will apply their quotas as non-state importer. The quotas for non-state companies were: 0.33 million tons for urea, 3.37 million tons for DAP and 1.69 million tons for compound fertilizer.
MOFCOM pointed out the quotas for fertilizer imports will be allocated on a first-come, first-served basis, hence, it is suggested the importing companies to timely claim their quotas by submitting the application forms, copies of the importing contracts with overseas exporters, valid document of the payment and transactions.
China’s quotas system on fertilizer imports is to provide tax preference for the importers, that is to say, the fertilizer can be imported by non-quotas importers as general commodities but with higher tariff rate. However, the allotted imported fertilizer will enjoy the rate of 1% in FY 2013. Furthermore, the taxation thresholds will be increased if the importers have better importation performance in FY2012, while that of the poor-performance importers will be reduced punitively.
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