PVFCCo demonstrates impressive growth

Specifically, the total fertilizer sales volume is estimated to reach 694.4 thousand tons, an increase of 5% compared to the same period in 2023 and achieving 106% of the plan for the first six months. The total sales volume of chemicals is estimated at 63.6 thousand tons, an increase of 20% compared to the same period in 2023 and reaching 108% of the plan for the first six months.

The growth in consumption has been driven by PVFCCo's (PetroVietnam Fertilizer and Chemicals Corporation) ability to maintain safe, stable production and successfully expand new products and markets. In the first six months of 2024, PVFCCo produced about 553 thousand tons of fertilizers and chemicals, a 15% increase compared to the same period in 2023.

Additionally, PVFCCo has been actively developing new NPK product lines, notably the Phu My NPK 20-10-10+TE line, specifically used for sugarcane and fruit trees. This effort led to the consumption of Phu My NPK in the first six months of 2024 exceeding 80 thousand tons, an increase of 12% compared to the same period in 2023. This growth was achieved despite facing greater market challenges this year, such as prolonged droughts and saltwater intrusion, which delayed the planting season and reduced fertilizer consumption.

PVFCCo also achieved impressive growth in exports, with urea export volume reaching nearly 100 thousand tons, up 50% compared to the same period in 2023. The average export price of PVFCCo’s urea also increased by more than 8% compared to 2023. Notably, PVFCCo's exported urea is highly rated by international customers for meeting stringent quality standards and being flexible in meeting delivery times.

In the last six months of the year, PVFCCo will supply over 650 thousand tons of various fertilizers and chemicals, continue to develop new product lines and expand into international markets to fulfil the 2024 annual plan best.