Ministry of Agriculture and Rural Development has sent a petition to the Ministry of Industry and Commerce requesting a pause in the export of fertilizer. The purpose of the petition is to keep fertilizer prices in Viet Nam below those in other countries.
While various other countries have increased their export taxes, Viet Nam continues to subsidize urea production and does not levy an export tax on fertilizer.
Taking advantage of this, some enterprises have responded by hoarding goods and increasing prices.
Ministry of Agriculture has asked the Ministry of Industry and Commerce to stop issuing permits for exporting either domestically-produced fertilizer or imported fertilizer.
In addition, the ministry should manage domestic-produced sources.