Last week, Sinochem Corporation and BPC signed a potash import contract in the second half of the year with a contract price of US$470/ton. Shortly thereafter, Canpotex also signed a 630,000-ton supply agreement with Sinochem at a price of US$470/ton. In the first half of 2011, the increase was 17.5%. Industry insiders believe that Sinochem’s move may make the domestic potash fertilizer company’s quotation further increase in the second half of the year, which will further promote the downstream food price increase.

Zhang Ming, an analyst at China Chemical Network, told the media that “As long as Sinochem participates in the negotiations, prices will definitely rise because they are monopolistic companies that import potassium, and they are self-owned. The higher the price, the higher the profit can be. ."

It is reported that China's potash fertilizer production reached 3.968 million tons in 2010, but China's potash fertilizer consumption reached 9.151 million tons, and the import dependency was as high as 56.6%.

According to Zhang Shengxia, head of the sales department of Jiangsu Ruihe Chemical Fertilizer Co., Ltd., with the promotion of cost, the prices of various chemical fertilizer varieties have risen by a certain extent.

China's enterprises that have imported potash fertilizer licenses had only one Sinochem company before 1998, and 98 years later, they added another company, China Agricultural Resources Group. Three years ago, the list of potash fertilizer import rights increased to 10.

The ten companies are not balanced in their import rights. According to "The Economic Half Hour," quoted Wu Sihai, member of the Standing Committee of the Tenth National Committee of the Chinese People's Political Consultative Conference and the World Fertilizer Association, said: "In order to respond to the increase in prices of international potash fertilizer manufacturers, ten domestic manufacturers with potash fertilizer import rights and potash fertilizers in Canada and Russia are producing. Traders want to carry out unified negotiations, but the main players in the talks are Sinochem and middle peasants. The final price of negotiations has always been a mystery. To date, all imported potash is still controlled by Sinochem and middle peasants, and the remaining 8 companies can only Buy again from Sinochem and middle peasants.”

According to Wu Shihai, a member of the Standing Committee of the Tenth CPPCC National Committee and the former chairman of the World Fertilizer Association, Sinochem’s Sinofert had joined forces with foreign fertilizer giant Canada’s PCS Corp. in 2008 and caused substantial price increases, causing the domestic market price of potash fertilizer to soar, resulting in some huge Economic benefits are obtained by foreign capital.

Some netizens commented that Sinochem’s monopoly of China’s fertilizer imports raises prices to absorb huge profits, and it is bound to transfer prices to lower-level farmers. The state’s subsidy to farmers will be eaten up by fertilizer prices, which will not only increase farmers’ grain production. The cost will push up prices.

At present, the information conveyed by the government shows that although some factors driving price increases have been controlled to some extent, they have not been eliminated. The overall level of price stability is still the primary task of macroeconomic control.

Sinochem Group was established in 1950. Its main business is located in the fields of agriculture, energy, chemicals, real estate and finance. It is China's largest integrated agricultural input product (fertilizer, pesticide, and seed), the fourth largest national oil company, and chemical industry. The integrated service provider of products, Sinochem Group has more than 200 operating institutions at home and abroad, holding “Sinochem International” (SH, 600500), “Sinochem & Fertilizer” (HK, 0297) and “Fangxing Real Estate” (HK, 00817) Three listed companies.

At present, the global reserves of potassium salt ore have been estimated to be about 10 billion tons, but its resource distribution is seriously uneven. Potassium reserves in Canada, Russia, Belarus, and Brazil account for more than 90% of the world's total reserves, while China's reserves of potassium minerals only account for 2.2% of the world's total.

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