LX International to bring in 1,100 tons of urea from China this week
A freighter unloads 2,980 tons of urea used to make Diesel Emission Fluid for cars at a quay in Yeosu, South Jeolla Province, in this Nov. 13, 2021, file photo. Yonhap
LX International, the general trading arm of LX Group, said Monday 1,100 tons of urea will arrive in South Korea from China this week.
The shipment ― the first batch of an import contract with China for 10,000 tons ― will arrive in the southeastern port city of Busan, Tuesday, LX International said.
In November, the trading company secured the amount in a move to help address a supply crunch of urea, a key component of Diesel Emission Fluid (DEF) needed in cars to cut emissions.
The firm said it secured the urea from a fertilizer plant in China, which it invested in 2013.
LX International said the second batch, or 4,200 tons, will arrive next month, adding that due procedures are under way to bring in the rest of the contracted amount at the earliest possible date.
South Korea had experienced a supply shortage of urea after China imposed export curbs on the chemical in October to ease domestic supply bottlenecks. The South is heavily dependent on China for urea imports.
Supply has since been stabilized after all-out efforts by the government and private firms to secure more urea.
As of the end of December, the daily average production of DEF had reached around 1.2 million liters, twice as much as daily consumption, while around 500,000 liters had been imported per day on average, according to the finance ministry.
South Korea currently secures about a six-month stockpile of DEF and has been working to secure additional supplies from countries other than China to diversify import channels and to obviate such shortages, the ministry added. (Yonhap)