In November 2024, Ca Mau Fertilizer’s urea production reached over 82,000 tons, while its consumption for the month was over 52,000 tons, including domestic consumption of 30.8 thousand tons and exports of more than 21,000 tons.
For NPK, the production volume in November 2024 was 23.2 thousand tons, and the consumption volume was 2.3 thousand tons.
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Production and consumption targets of DCM in November and the plan for December
Source: DCM
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Cumulative for 11 months, urea production reached over 870,000 tons, achieving 98% of the yearly plan; consumption was 730,000 tons, completing 98% of the yearly plan. NPK even exceeded the production target and achieved 66% of the consumption plan.
Source: DCM
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According to Ca Mau Fertilizer, in November, the increase in imported supply, coupled with stagnant consumption demand, continued to put pressure on domestic urea prices.
As per the General Department of Customs, in the first 11 months of the year, Vietnam imported over 4.8 million tons of fertilizer, a 31% increase compared to the same period, with an average price of nearly 330 USD/ton (a decrease of 3.7%). Meanwhile, fertilizer exports were estimated at over 1.57 million tons, equivalent to nearly 644 million USD, with an average price of nearly 410 USD/ton, representing a 13.7% increase in volume and an 11.6% rise in value. However, the price slightly decreased by 1.8% compared to 2023.
Source: DCM
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In the last month of the year, DCM sets production and consumption plans for urea at 78.9 thousand tons and 80 thousand tons, respectively; and for NPK, the targets are 9.3 thousand tons and 37 thousand tons. If successful, DCM will surpass the production and consumption plans for urea but will fall short of completing the consumption plan for NPK.
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