Tariff hikes for export of fertilizer

China will increase export tariffs on fertilizer products and related raw materials by 100 percentage points to ensure domestic supply and curb rising domestic prices, the Ministry of Finance said yesterday.

The move is aimed at guaranteeing domestic farmers have access to ample fertilizer as the spring plowing season has started since March.

"The excessively fast exports of fertilizers have stoked domestic price rises and led to supply shocks for some products in certain areas," the ministry said in a statement on its website.