Gov't extends hoarding bans on urea, medical supplies for 2 months
Bans on hoarding urea, urea solution, medical syringes and needles will be extended for two months amid lingering concerns over supply disruptions, the finance ministry said Thursday. In an emergency ministerial-level meeting, the government decided to extend the ban on hoarding until Oct. 31, while easing stockpiling restrictions as China has recently relaxed its tight control on urea exports,…
The finance ministry has announced an extension of hoarding bans on urea and medical supplies for a period of two months, citing ongoing concerns about potential supply disruptions. This decision was made during an emergency ministerial meeting, with the government set to prolong the ban until October 31. The Ministry of Finance and Economy stated that the ban will ease restrictions on stockpiling, following China's recent relaxation of its stringent control on urea exports.
Under the revised regulations, importers, manufacturers, and sellers will be restricted from holding more than 200 percent of their monthly average sales from the previous year for a duration of more than seven days, a significant increase from the current limit of 150 percent. Urea, essential for mitigating emissions in diesel vehicles and for producing agricultural fertilizers, is among the items subject to these restrictions.
The initial hoarding ban was introduced in March when Beijing halted most fertilizer and urea shipments abroad. Additionally, a separate restriction on hoarding medical syringes and needles will persist until the end of October. Medical product companies are also prohibited from stockpiling more than 200 percent of their monthly sales of these essential medical items.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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