Due to the sharp increase in fertiliser prices in the past three months, the Plant Protection Department under the Ministry of Agriculture and Rural Development has proposed stopping fertiliser exports.
According to the Viet Nam Fertiliser Association, since the law came in force, the prices of fertiliser products in the domestic market rose by 7.2-7.6 per cent compared to when a VAT rate of 5 per cent was imposed previously.
The Viet Nam National Chemical Group (Vinachem) has sent a document to Viet Nam Fertiliser Association, asking the National Assembly to add fertiliser to the list of products subjected to value added tax (VAT).
Management over the fertiliser market must be enhanced to prevent fake and low-quality products which caused an estimated losses of about US$2.5 billion each year.
State offices should take strong action against counterfeit and shoddy
fertiliser producers, experts said at a conference on the restructuring
of the local fertiliser production in Ha Noi yesterday.