The ministry said that since January 1 this year, the value-added tax on fertilisers and animal feed products has been withdrawn. — VNA/VNS Photo Danh Lam

HA NOI (Biz Hub) — The finance ministry has directed the authorities of cities and provinces nationwide to ask enterprises to consider cutting fertiliser and animal feed prices due to a drop in input prices.

The ministry said that since January 1 this year, the value-added tax on fertilisers and animal feed products has been withdrawn.

On the other hand, the ministry has been following the global trend and has found that since the third quarter of 2014, the prices of urea, key ingredients for making animal feed and petroleum products at home and abroad have fallen in the international market. However, its prices have not fallen in the domestic market, said the ministry.

Therefore, to curb inflation and stabilise the macro-economy, the authorities of provinces and cities under the central government will direct the finance departments and relevant state offices to issue official letters, asking firms producing and trading in fertiliser and animal feed products to review their input costs, said the ministry.

Then the enterprises will reduce the prices of these products and list them as per existing regulations.

Meanwhile, the finance departments will guide and inspect the listing of the sale prices under current regulations, said the ministry.

The state offices, including the departments of agriculture and rural development and of industry and trade, have been asked to formulate plans to inspect the quality of the products to limit poor-quality, fake and pirated goods.

Additionally, the people's committees of the provinces and cities should promote the regulations related to the responsibility of organisations, individuals and enterprises involved in the production, business and use of fertilisers and animal feed. They have to improve awareness on implementing price regulations, and fight fake and poor-quality products in the local market. — VNS