- Interview with Zhang Xiangbang of Qifu (Group) Co., Ltd. approved by the State Council. The Ministry of Finance announced on February 14 that from February 15th to September 30th, it will be applicable to diammonium hydrogen phosphate, ammonium dihydrogen phosphate and The provisional tax rate for exports of diammonium hydrogen phosphate and ammonium dihydrogen phosphate increased to 35%, and a 20% tax rate was still applied from October 1 to December 31. At the same time, part of the phosphorus-containing compound fertilizers will be subject to the provisional tariffs for exports that are the same as those mentioned above. On April 17, the Ministry of Finance again issued an announcement that the nitrogen fertilizers, phosphate fertilizers, potash fertilizers, compound fertilizers, and other chemical fertilizers and some raw materials exported to all trade forms, regions, and enterprises from April 20 to September 30 will be available. On the basis of the export tax rate, a special export tariff of 100% will be imposed on the basis of the export price.
This move caused a horror in the industry. At present, the prices of raw materials for chemical fertilizers, especially raw materials for phosphorus and compound fertilizers, are continuously rising, and the product cost has reached new heights. The country strictly limits fertilizer prices, coupled with the oversupply of products, after the arrival of the off-season sales, relying on seasonal exports has become an important means for enterprises to ease the pressure of production and management. The introduction of special tariff policies will make fertilizers, especially those of phosphate and compound fertilizer companies, subject to difficulties and pressure on both sides. Rongfu (Group) Co., Ltd., as the largest phosphate and compound fertilizer producer in China, is the first to bear the brunt! To this end, we recently visited Zhang Xiangbang, the deputy general manager of the company's marketing division.
With special export tariffs, Zhang Xiangbang’s expression is dignified. He said that the promulgation of this policy will result in a substantial drop in the export earnings of Yifu. Shengfu (Group) Co., Ltd.'s export revenue has ranked first in Guizhou Province for 7 consecutive years, accounting for more than a quarter of the province's export earnings. The implementation of the new tariff policy will not only affect Bengbu but also affect Guizhou, which will cause the total amount of foreign exchange earned through exports to the province to decline significantly. At the same time, it may also cause the economic benefits of Bengbu (Group) Co., Ltd. to fall significantly this year. In accordance with the production and business plan at the beginning of the year, the total sales of Rongfu this year will reach more than 100 billion yuan. Diammonium phosphate is currently quoted at 1,320 US dollars per ton, while the domestic limit is 4,100 yuan per ton, and the spread is more than 5,100 yuan per ton. Due to the obstruction of exports, it is expected that Qinfu's sales revenue will decrease by about RMB 200 billion this year, which will inevitably lead to a significant decline in the economic efficiency of Qifu (Group) Co., Ltd. This year, and because of the sharp drop in exports, the cost of logistics and transportation will greatly increase. Yanfu (Group) Co., Ltd. has to transport 500,000 tons of sulphur every year from the port. In the past years, phosphorus and sulfur were used for reconciliation, and two-way transportation was used, resulting in lower logistics costs. This year, due to the fact that chemical fertilizers cannot reach the port, one-way transportation has to be implemented to increase freight rates exponentially.
Zhang Xiangbang further analyzed to us that according to calculations, the current price of sulfur ports is US$710/ton, and the factory price reaches RMB 6,000 per ton. The total cost of a factory producing 1 ton of diammonium is 4,868 yuan, the domestic price is 4,100 yuan per ton, and the sales of one ton is nearly 800 yuan. In the country's strict control of exports, domestic strict price limits, product oversupply, raw material costs, logistics costs, the case of a large increase, Wei Fu can be said this year is facing heavy pressure, survival, development will be severely challenged.
In the face of such a grim situation, how does Bengfu respond? Zhang Xiangbang said that in order to minimize the impact, Bengbu (Group) Co., Ltd. has adjusted the production and operation plates for the current and future period of time and has formulated a series of countermeasures in the hope that a smooth transition can be achieved. First, we must thoroughly explain the difficulties and problems brought by the new tariff policy to Yifu and mobilize all employees to work together to overcome difficulties. The key is to tap the internal potential, vigorously increase revenues and reduce expenditures, strictly control non-productive expenditures, and strive to reduce and absorb some of the production costs. The second is supplementing fertilizer with minerals and increasing efficiency with phosphoric acid. According to the needs of the current market, most of them supply phosphate ore and phosphoric acid to the domestic market. Third, 100,000 tons of wet-process phosphoric acid and 50,000 tons of food-grade phosphoric acid and other multi-product devices try to drive full horsepower, achieve high output and stable production, meet market needs, and follow the characteristics of the development of fine chemical products by Fufu, and take a variety of business approaches. The fourth is to make full use of the advantages of Fuk in the development of the domestic market in recent years and the results of the construction of “Hongfu Villageâ€. In accordance with the principle of early and fast integration, the market sales strategy of the autumn market was started in a timely manner. The plant, business, and business verification were carried out in major sales regions. Warehouse business, prepare goods in advance, actively launch multi-product, multi-brand marketing, and seize the opportunity in the current situation of serious oversupply of products.
It is understood that people in the industry generally believe that the long-term implementation of the policy of levying high special export tariffs on chemical fertilizers will have a serious impact on the development of the Chinese phosphorus and compound fertilizer industry. It is hoped that after the end of September, the state will be able to loosen up the phosphate chemical industry in terms of macroeconomic policies. Zhang Xiangbang disclosed that the five major phosphorus chemical companies (including Anhui Six Kingdoms, Yuntianhua, Yihua of Hubei, and Kaihua of Guizhou), including Pei Fu, recently passed the China Phosphorizing Industry Association and jointly signed a letter to the National Development and Reform Commission, proposing that according to China's “Three Agriculture†“Development and phosphating industrial conditions will give companies three requirements for direct “supplement,†for importing sulfur, and for exemption of value-added tax, and for part of the company’s lighter storage funds in the off-season. It is reported that the National Development and Reform Commission has studied and reported to the State Council and will reply in due course.
Zhang Xiangbang has repeatedly stressed that the introduction of the new tariff policy is a measure taken by the country from the perspective of macroeconomics to abandon partial interests and safeguard the overall state of the country. As a pioneer company in China's phosphorus chemical industry, Handan (Group) Co., Ltd. must implement this policy earnestly from the political perspective of safeguarding the country's "three rural" policy and go all out to support China's agricultural production to ensure the stability of domestic fertilizer prices.
This move caused a horror in the industry. At present, the prices of raw materials for chemical fertilizers, especially raw materials for phosphorus and compound fertilizers, are continuously rising, and the product cost has reached new heights. The country strictly limits fertilizer prices, coupled with the oversupply of products, after the arrival of the off-season sales, relying on seasonal exports has become an important means for enterprises to ease the pressure of production and management. The introduction of special tariff policies will make fertilizers, especially those of phosphate and compound fertilizer companies, subject to difficulties and pressure on both sides. Rongfu (Group) Co., Ltd., as the largest phosphate and compound fertilizer producer in China, is the first to bear the brunt! To this end, we recently visited Zhang Xiangbang, the deputy general manager of the company's marketing division.
With special export tariffs, Zhang Xiangbang’s expression is dignified. He said that the promulgation of this policy will result in a substantial drop in the export earnings of Yifu. Shengfu (Group) Co., Ltd.'s export revenue has ranked first in Guizhou Province for 7 consecutive years, accounting for more than a quarter of the province's export earnings. The implementation of the new tariff policy will not only affect Bengbu but also affect Guizhou, which will cause the total amount of foreign exchange earned through exports to the province to decline significantly. At the same time, it may also cause the economic benefits of Bengbu (Group) Co., Ltd. to fall significantly this year. In accordance with the production and business plan at the beginning of the year, the total sales of Rongfu this year will reach more than 100 billion yuan. Diammonium phosphate is currently quoted at 1,320 US dollars per ton, while the domestic limit is 4,100 yuan per ton, and the spread is more than 5,100 yuan per ton. Due to the obstruction of exports, it is expected that Qinfu's sales revenue will decrease by about RMB 200 billion this year, which will inevitably lead to a significant decline in the economic efficiency of Qifu (Group) Co., Ltd. This year, and because of the sharp drop in exports, the cost of logistics and transportation will greatly increase. Yanfu (Group) Co., Ltd. has to transport 500,000 tons of sulphur every year from the port. In the past years, phosphorus and sulfur were used for reconciliation, and two-way transportation was used, resulting in lower logistics costs. This year, due to the fact that chemical fertilizers cannot reach the port, one-way transportation has to be implemented to increase freight rates exponentially.
Zhang Xiangbang further analyzed to us that according to calculations, the current price of sulfur ports is US$710/ton, and the factory price reaches RMB 6,000 per ton. The total cost of a factory producing 1 ton of diammonium is 4,868 yuan, the domestic price is 4,100 yuan per ton, and the sales of one ton is nearly 800 yuan. In the country's strict control of exports, domestic strict price limits, product oversupply, raw material costs, logistics costs, the case of a large increase, Wei Fu can be said this year is facing heavy pressure, survival, development will be severely challenged.
In the face of such a grim situation, how does Bengfu respond? Zhang Xiangbang said that in order to minimize the impact, Bengbu (Group) Co., Ltd. has adjusted the production and operation plates for the current and future period of time and has formulated a series of countermeasures in the hope that a smooth transition can be achieved. First, we must thoroughly explain the difficulties and problems brought by the new tariff policy to Yifu and mobilize all employees to work together to overcome difficulties. The key is to tap the internal potential, vigorously increase revenues and reduce expenditures, strictly control non-productive expenditures, and strive to reduce and absorb some of the production costs. The second is supplementing fertilizer with minerals and increasing efficiency with phosphoric acid. According to the needs of the current market, most of them supply phosphate ore and phosphoric acid to the domestic market. Third, 100,000 tons of wet-process phosphoric acid and 50,000 tons of food-grade phosphoric acid and other multi-product devices try to drive full horsepower, achieve high output and stable production, meet market needs, and follow the characteristics of the development of fine chemical products by Fufu, and take a variety of business approaches. The fourth is to make full use of the advantages of Fuk in the development of the domestic market in recent years and the results of the construction of “Hongfu Villageâ€. In accordance with the principle of early and fast integration, the market sales strategy of the autumn market was started in a timely manner. The plant, business, and business verification were carried out in major sales regions. Warehouse business, prepare goods in advance, actively launch multi-product, multi-brand marketing, and seize the opportunity in the current situation of serious oversupply of products.
It is understood that people in the industry generally believe that the long-term implementation of the policy of levying high special export tariffs on chemical fertilizers will have a serious impact on the development of the Chinese phosphorus and compound fertilizer industry. It is hoped that after the end of September, the state will be able to loosen up the phosphate chemical industry in terms of macroeconomic policies. Zhang Xiangbang disclosed that the five major phosphorus chemical companies (including Anhui Six Kingdoms, Yuntianhua, Yihua of Hubei, and Kaihua of Guizhou), including Pei Fu, recently passed the China Phosphorizing Industry Association and jointly signed a letter to the National Development and Reform Commission, proposing that according to China's “Three Agriculture†“Development and phosphating industrial conditions will give companies three requirements for direct “supplement,†for importing sulfur, and for exemption of value-added tax, and for part of the company’s lighter storage funds in the off-season. It is reported that the National Development and Reform Commission has studied and reported to the State Council and will reply in due course.
Zhang Xiangbang has repeatedly stressed that the introduction of the new tariff policy is a measure taken by the country from the perspective of macroeconomics to abandon partial interests and safeguard the overall state of the country. As a pioneer company in China's phosphorus chemical industry, Handan (Group) Co., Ltd. must implement this policy earnestly from the political perspective of safeguarding the country's "three rural" policy and go all out to support China's agricultural production to ensure the stability of domestic fertilizer prices.
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