The Ministry of Industry and Trade has decided to extend the safeguard measure on imported monoammonium phosphate (MAP) and diammonium phosphate (DAP) fertilisers.

Fertiliser packages in a storehouse (Photo: VNA) 

The duration for applying this safeguard duty is two years, starting from March 7 this year.

The safeguard duty stands at about VND1.05 million (US$46) per tonne in a one-year time starting from March 7, and will drop to VND1.03 million from March 7 next year.

It will be VND1.01 million starting from March 7 to September 6, 2022.

According to the World Trade Organisation, a safeguard measure can be extended up to eight years, subject to a determination by competent national authorities that the measure is needed and that there is evidence the industry is adjusting.