'AdBlue Shortage' Eases... 81 Days of Inventory and 36,000 Tons Imported in January

Ministry of Economy and Finance Holds Inter-Ministerial Joint Response Meeting on Urea Solution Supply

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kim Hyunjung] On the 14th, the government evaluated that the urea solution market, which experienced supply instability last November, is stabilizing. It explained that the production volume of urea solution has increased through higher urea imports, reaching about twice the average daily consumption.

According to the Ministry of Economy and Finance on the 14th, Han Hoon, Deputy Minister of the Ministry of Economy and Finance, held an inter-ministerial joint response meeting on urea solution supply at the Government Seoul Office the day before and announced this.

From the production side, urea imports, which were about 5,000 tons last November, surged to 40,000 tons last month and are expected to reach about 36,000 tons this month. As of the 11th, the domestic stock of vehicle urea was about 17,000 tons, enough for about 81 days. With increased urea imports, urea solution production continues at about twice the average daily consumption (about 600,000 liters) on weekdays.

Regarding prices, although somewhat stabilized, the price of urea, the raw material, has surged more than three times compared to previous years, showing about 158% of the level before the supply instability. The average selling price of urea solution before the supply instability was 12,000 KRW per 10 liters, rising to 27,000 KRW in November. Recently, it has dropped to 19,000 KRW.

Urea solution sales locations are sharing stock information through private apps such as T-map and Kakao Navi, and the number of participating gas stations increased from 136 in May last year to 2,574 as of the 12th of this month.

With the stabilization of urea solution supply, the government allowed urea solution to be sold without purchase limits not only at gas stations, which were the sole sales channel until January 1 this year, but also through online shopping malls and marts. Restrictions on personal transactions were also lifted, permitting resale through secondhand trading platforms. However, considering ongoing concerns about supply instability overseas in Japan, Europe, and other regions, the government plans to maintain monitoring systems and response measures.