Finance ministry to end urea-water and syringe hoarding bans on Oct. 31

The Ministry of Economy and Finance said Wednesday it will end its bans on hoarding urea water and syringes and needles on Oct. 31, closing special measures that have policed the two politically sensitive supplies since spring.

The Ministry of Economy and Finance said it decided not to extend the notices after finding both markets stable, with no signs of the hoarding and refusal to sell that the rules were meant to stop. From Nov. 1, the prohibition on stockpiling and the reporting and enforcement duties that came with it will lapse.

The urea water notice took effect March 27 and covered importers, manufacturers and sellers of urea water and importers and sellers of urea; holding more than 200 percent of a company's average monthly sales in the previous year for seven days or longer was treated as hoarding. The syringe and needle notice followed on April 14, with the same 200 percent threshold and a five-day holding period. The ministry ran both rules with the industry ministry, the climate, energy and environment ministry, and the food and drug safety ministry.

The government pointed to improved import conditions for urea and urea water, leaving inventories in good shape. Syringe stockpiles at domestic manufacturers have risen steadily since June and are now more stable than when the notice took effect, it said.

The finance ministry said it will keep monitoring supply and prices with other ministries after the notices expire, and will move quickly to prepare and apply new measures if domestic or external conditions threaten a renewed squeeze.