SEOUL, Dec. 10 (Korea Bizwire) — South Korea is maintaining more than four months of inventory of urea amid growing concerns over its supply in the wake of China’s export suspension, the industry ministry said Sunday.
“South Korea will establish a system to thoroughly monitor the sales of urea in the country and make moves to promptly supply it,” First Vice Industry Minister Jang Young-jin said during his visit to a gas station in Seoul.
“Around 97 percent of gas stations in South Korea are selling urea normally,” he added, noting that the country has secured enough urea for 4.3 months.
Last week, China suspended customs procedures for urea shipments to South Korea. Seoul officials have said the move appears to have been made due to tight supplies for domestic use in China, though it was not a formal export curb.
Urea is a type of nitrogen used to curb emissions in diesel cars and to make agricultural fertilizers, and China is the world’s largest producer of the material.
“The previously procured five thousand tons of urea from Vietnam is scheduled to arrive here as planned next week. We encourage everyone to rest assured and purchase only the necessary amount,” he added.