Fertiliser companies reported profit up by 5-10 times in the first quarter of this year compared to the same period in 2021, mainly thanks to the strong increase in average selling prices.
Many fertiliser companies are steadily increasing production of organic fertilisers since they expect demand for them to rise sharply over the coming years.
PetroVietnam is laying out plans to divest capital from the two biggest Vietnamese fertiliser companies – PetroVietnam Fertiliser & Chemicals Corp (DPM) and PetroVietnam Ca Mau Fertiliser Joint Stock Company (DCM) – to submit to authorities for consideration.
The Viet Nam Competition Authority (VCA) issued a document last week certifying that the domestic fertiliser companies’ dossiers on the possibility of applying trade defence instruments are valid.