PVFCCo impressive growth in consumption and market expansion

In the first 6 months of 2024, PVFCCo's total fertilizer and chemical sales output exceeded the plan and grew by 5% -20% over the same period in 2023.

Specifically, the total fertilizer business output of PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo) is estimated at 694,400 tons, up 5% over the same period in 2023 and reaching 106% of the plan for the first 6 months of the year; the total chemical business output is estimated at 63,600 tons, up 20% over the same period in 2023 and reaching 108% of the plan for the first 6 months of the year.

PVFCCo achieved impressive growth in exports, with urea export output reaching nearly 100,000 tons, up 50% over the same period in 2023.

The above good growth in consumption is due to PVFCCo maintaining a safe and stable production rhythm as well as continuously and successfully expanding new products and markets.

In the first 6 months of 2024, PVFCCo produced about 553,000 tons of fertilizers and chemicals, an increase of 15% over the same period in 2023.

In addition, PVFCCo has actively developed new NPK product lines, typically Phu My NPK 20-10-10+TE, specialized for sugarcane and fruit trees, helping Phu My NPK consumption in the first 6 months of 2024 reach over 80,000 tons, an increase of 12% over the same period in 2023, despite this year's market conditions having more challenges such as drought, prolonged saline intrusion, slowing down the crop season and fertilizer consumption.

PVFCCo's exported urea products are highly appreciated by international customers because they meet specific and strict standards.

PVFCCo also achieved impressive growth in exports, with urea export output reaching nearly 100 thousand tons, an increase of 50% over the same period in 2023, and PVFCCo's average urea export price also increased by more than 8% compared to 2023.

In particular, PVFCCo's exported urea products are highly appreciated by international customers because they meet specific and strict quality standards and are flexible in meeting delivery times.

In the last 6 months of the year, PVFCCo will supply about 650,000 tons of fertilizers and chemicals of all kinds, continue to develop new product lines and international markets to best complete the 2024 plan.

Some key planning targets in 2024 of PVFCCo

STT	Content	Unit	KH 2024
1	Fertilizer production output	thousand tons	997.1
2	Chemical production output	thousand tons	78
3	Fertilizer consumption	thousand tons	1,278.1
4	Chemical consumption output	thousand tons	119.28
5	Total revenue	billion dong	12,755
6	Profit before tax	billion dong	660