In a recent report to the Vietnam Oil and Gas Group (PVN), PVFCCo revealed impressive achievements in fertilizer and chemical production for the first half of the year. The company’s output reached approximately 553,000 tons, marking a 15% increase compared to the same period last year.
Notably, PVFCCo successfully expanded its product portfolio with the introduction of NPK Phu My 20-10-10+TE, specifically designed for sugarcane and fruit trees. This new offering contributed to a significant rise in NPK Phu My consumption, surpassing 80,000 tons, which represents a 12% increase compared to 2023.
For the first half of the year, total fertilizer and chemical sales volume exceeded plans and showed growth of 5-20% year-on-year. Specifically, the estimated total fertilizer sales volume exceeded 694,000 tons, a 5% increase, and surpassed the plan by 6%. Meanwhile, the estimated total chemical sales volume reached nearly 64,000 tons, a remarkable 20% increase, surpassing the plan by 8%.
PVFCCo also made significant strides in export performance. Urea export volume reached nearly 100,000 tons, reflecting a substantial 50% increase compared to the previous year, while the average export price of urea also increased by over 8%.
Looking ahead to the second half of 2024, PVFCCo sets its sights on supplying over 650,000 tons of various fertilizers and chemicals. The company remains committed to product diversification and international market expansion to ensure the successful completion of its annual plan.
