PetroVietnam Fertilizer may post loss this quarter

PetroVietnam Fertilizer & Chemical Joint Stock Co., the country’s biggest fertilizer producer, may post a loss this quarter on slow sales, a local newspaper reported, citing the Ministry of Trade and Industry.

PetroVietnam Fertilizer, which reported a loss of almost VND87 billion (US$5 million) in the last three months in 2008, still held “a lot of” fertilizer in stock as consumption slowed, the Thoi Bao Kinh Te Viet Nam reported, without giving a comparative figure.

The country’s stockpile of fertilizer reached two million tons as of the end of January, it said.

PetroVietnam Fertilizer makes more than 40 percent of the 1.7 million tons of fertilizer used in the country each year.

 Bloomberg

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