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Update news vietnam's fertilizer industry
A contentious debate has arisen over whether Vietnam should impose a 5 per cent VAT on fertilisers to boost local production or retain the current tax exemption to support farmers.
The Vietnamese fertiliser market is fragmented, with many small producers, but that is changing
Falling selling prices and rising costs have caused the profits of most fertiliser businesses to plunge, after recording high profits in the previous few years.
April witnessed Vietnam export fertilizers to nine markets, with six ASEAN member states alone consuming 66,648 tonnes, or 50.5% of the country's overall fertilizer export market share.