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S.Korea rations urea supply amid shortage leading drivers to panic buy -Breaking

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© Reuters. FILEPHOTO: A line forms to collect urea from Iksan (South Korea), November 9, 2021. Yonhap via REUTERS

By Heekyong Yang

SEOUL (Reuters). During an urgent shortage, the South Korean government began rationing urea. This is used to reduce diesel cars and industrial emissions. It also banned the resale.

The trade ministry announced that passenger vehicle drivers will have a limit of 10 litres and commercial vehicle drivers will have a 30 litre limit. All resale will be prohibited under the set of rules until the end.

In a statement, the ministry explained that both sellers and producers of the solution must submit daily reports to the government on all aspects of import, production, and sale.

According to experts in the industry, approximately two million diesel cars, mostly cargo trucks, but also passenger, must use this additive. Effective immediately, all exports have been banned

Kim Boo Kyun apologized to Prime Minister for failing to plan ahead and called for a special cabinet meeting.

He said that he sincerely apologises for any inconvenience caused and will take some time to restore normal supply.

China recently introduced new export requirements. Diesel car drivers began panicking about buying urea, which effectively stopped exports and boosted supplies for the domestic market. According to the trade ministry, 97% of South Korea’s urea imports were from China in January through September.

South Korea tried to get oil supplies this week by flying a tanker from South Korea to Australia. This diversifies the supply to other countries, and speeds up urea imports to China. Industry officials however say that the temporary measures are only temporary.

South Korea followed South Korea’s lead last year, when face mask demand exploded due to confirmed COVID-19 case. The central government intervened in the production and distribution of the masks.

South Korea temporarily prohibited the export of facial masks. It also restricted individual purchases in an effort to reduce hoarding and alleviate shortages.

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