In the first six months of 2024, PVFCCo’s total sales volume of fertilizers and chemicals surpassed the plan and grew by 5%-20% compared to the same period in 2023. Specifically, the total fertilizer sales volume was estimated at 694.4 thousand tons, up 5% compared to the same period in 2023 and achieving 106% of the plan for the first six months. The total chemical sales volume was estimated at 63.6 thousand tons, up 20% compared to the same period in 2023 and reaching 108% of the plan for the first six months.
This positive consumption growth
was due to PVFCCo’s maintenance of safe and stable production rates and the continuous successful expansion of 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 actively developed new NPK product lines, notably the Phu My NPK 20-10-10+TE line specialized for sugarcane and fruit trees, helping the consumption of Phu My NPK in the first six months of 2024 reach over 80 thousand tons, an increase of 12% compared to the same period in 2023, despite the more challenging market conditions this year, such as prolonged drought and saltwater intrusion, which delayed planting seasons and reduced fertilizer consumption. PVFCCo also achieved impressive growth in exports, with urea exports reaching nearly 100 thousand tons, up 50% compared to the same period in 2023, and the average export price of urea increasing by over 8% compared to 2023. Notably, PVFCCo’s exported urea was highly praised by international customers for meeting stringent quality standards and being flexible in meeting delivery times.
In the second half 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 best achieve the 2024 annual plan.
