HANOI, Mar 10 (NNN-VNA) – Fertiliser prices in Vietnam are falling, as cost of natural gas and farmers’ demand decrease, local media reported today.
The decline in prices is considered a boon for farmers, who are able to reap the benefits, however, it leaves production enterprises grappling with challenges, the local newspaper, Vietnam News reported.
The market has continued to witness a sharp drop in prices, with urea fertiliser currently at its lowest price point in over two years, the newspaper said.
As the output selling price is low and slow, inventory pressure and financial costs are extremely large, and profit margins are falling rapidly.
Vu Xuan Hong, deputy general director of a local fertiliser and chemical company, said that, the drop in fertiliser prices helped farmers reduce difficulties, especially in the context of high fertiliser prices, in the last two years. However, the current situation also puts great pressure on fertiliser enterprises, especially agent systems.– NNN-VNA
