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This year, the national fertilizer reserves will reach 7.7 million tons. The first batch of 27 companies have signed reserve contracts.
In order to ensure the stable supply of chemical fertilizers for this year's spring farming season, the country has initiated the second batch of 1.65 million tons of off-season commercial reserves, following the first batch of 6.05 million tons. This move reflects the government’s proactive approach in managing fertilizer availability and preventing shortages during critical agricultural periods.
According to recent reports from the National Development and Reform Commission (NDRC), in November 2005, the NDRC and the Ministry of Finance had already extended storage qualifications to 27 companies that successfully completed the previous year's fertilizer destocking tasks. These companies signed contracts for the first batch of 2005/2006 off-season fertilizer reserves, totaling 6.05 million tons. They have since begun the process of building up these reserves, focusing on lighter stockpiles to meet seasonal demands.
This year’s second batch of off-season reserves is still being managed through a bidding process open to all qualified fertilizer production and distribution companies across the country. Eligible firms can either bid individually or form joint bids, ensuring broader participation and competition. This system helps maintain market stability by encouraging efficient resource allocation.
The concept of off-season commercial reserves was introduced in 2005 to address the mismatch between annual production and seasonal demand for fertilizers. By selecting qualified companies through bidding, the government ensures that excess fertilizers produced during off-peak times are stored and released when needed. The state also provides interest subsidies for these reserves, and the fertilizers are reintroduced into the market during peak seasons, helping to stabilize prices and ensure timely availability.
On November 1, 2005, the NDRC and the Ministry of Finance issued the "Supplementary Provisions on the Administrative Measures for the Reserves of Chemical Fertilizers in the Off-season." These regulations outlined a six-month storage period, a one-time bidding process for storage enterprises, a three-year commitment for selected companies, and a performance-based reward and penalty system. This framework aims to enhance the efficiency and sustainability of the reserve system.
Overall, the government's efforts to manage fertilizer reserves demonstrate a strategic and long-term approach to supporting agricultural production and ensuring food security.