In August, Ca Mau Petroleum Fertilizer experienced a sharp increase in NPK production and consumption.

DNHN - Ca Mau Fertilizer's production and consumption plan for August 2023 has also been proposed, with a sudden increase in NPK production and consumption of 3,600 and 10,000 tonnes, respectively.

According to an investor statement, in July 2023 PetroVietnam Ca Mau Fertiliser Joint Stock Company (Ca Mau Fertiliser) achieved impressive production and consumption figures for fertilizer. The enterprise's urea production output increased by 2.2% month-over-month to 83,810 tonnes. In tandem, the quantity of urea consumed surged to 59,190 tonnes, up 4.9% from the previous month. 43,670 tonnes are consumed domestically, while 15,530 tonnes are exported to foreign markets. In July, there is no information regarding Ca Mau Fertilizer's NPK fertilizer output.

Ca Mau Fertilizer's performance index has also been updated for the first seven months of the year. 576,250 tonnes of urea were produced, completing 37.6% of the annual target. Also disclosed were the production figures for NPK fertilizer, which totaled 83,520 tonnes, or 3.6% of the annual target. On the consumption side, Ca Mau Fertiliser has consumed 500,440 tonnes of urea over the past seven months, achieving 55% of its annual goal, with exports reaching 157,980 tonnes, achieving 15%. In the meantime, the consumption of NPK fertilizer reached 56,660 tonnes, achieving 10 percent of the annual target.

The August 2023 production and consumption plan for Ca Mau Fertiliser has also been established. The business is anticipated to produce 37,600 tonnes of urea and consumes 55,000 tonnes of urea, a decrease of 55% and 7% from the previous month. NPK production and consumption are anticipated to experience a significant, sudden increase, with figures of 3,600 tonnes and 10,000 tonnes, respectively, 9.8 times greater than NPK consumption in July 2023.

Since mid-July, fertilizer prices have been trending upward, according to Ca Mau Fertilizer's analysis of the fertilizer market. This may be the result of Russia's withdrawal from the grain agreement with Ukraine, putting pressure on global markets and endangering food security. This circumstance has prompted many nations to stockpile food and fertilizers to safeguard agricultural production. This also creates numerous opportunities and challenges for the industry's businesses.

PV (t/h)