The fertiliser export market declined in both volume and price in the first six months of this year.Phùng Hà, general secretary and vice chairman of the Việt Nam Fertiliser Association, said that the prices of fertilisers fell sharply in the first six months of the year, especially urea fertiliser due to the price of input materials such as gas and coal for production falling.In addition, China has no longer restricted the export of 29 types of fertilisers. This move has greatly increased the supply of fertiliser on the world market, putting downward pressure on prices to promote consumption.Accordingly, the prices of all kinds of fertilisers have gone down by 60-65 per cent compared to the beginning of last year and tend to be stable at the current low level.To cope with these challenges, besides the traditional markets of Japan, South Korea, Malaysia, Cambodia and Laos, many domestic fertiliser manufacturers have sought to expand their exports to other markets such as Taiwan (China), Brazil, India, Southeast Asian countries and Europe.Along with the efforts of enterprises to expand the market, the Việt Nam Fertiliser Association recently sent an official dispatch to the Government Office on solutions to support fertiliser firms in boosting exports through favourable tax policies.Specifically, the association proposed the superphosphate export tax rate be 0 per cent as before, instead of the 5 per cent rate as prescribed in Decree No 26/2023/NĐ-CP dated May 31 this year.The association said that the total production capacity of superphosphate fertilisers of factories in Việt Nam is about 1.5 million tonnes per year while the amount of the fertiliser consumed domestically is less than 500,000 tonnes per year.In addition, the fierce competition from Chinese products and cheap prices makes Vietnamese superphosphate products less attractive as exports compared to other countries such as China, Morocco, and India, especially if the export tax rate is kept at 5 per cent.As for urea nitrogen fertiliser, its capacity is 2.5 million tonnes and demand is less than 1.8 million tonnes, therefore, enterprises must export to ensure effiiency.Brunei's entry into the fertiliser market with a supply of 1.8 million tonnes of urea per year, mainly targeting the Southeast Asian market, including Việt Nam, has further increase competitive pressure.The Việt Nam Fertiliser Association proposed to apply zero per cent export tax on urea fertilisers. — VNS (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam News