Press Release

Ministry of Industry and Trade works with Ca Mau Urea on cooling down fertilizer prices

Cong Thuong newspaper - Faced with fluctuations of the current fertilizer market, especially for urea, the task force of Ministry of Industry and Trade has recently held a working session with Petrovietnam Ca Mau Fertilizer Company Ltd (PVCFC) in an effort to cool down the fertilizer market, especially for urea at some locations...

Ca Mau Fertilizer Plant has been in stable production and currently operates at 100% capacity. At present, Ca Mau Urea products are sold to the market by auctions (total: 8 auction sales), which have been carried out by Ca Mau Gas - Power - Fertilizer Project Management Board in co-operation with PVFCCo. Total volume of successful auction sales has so far reached over  160,000 tons. This volume of urea was consumed by NPK producers as well as domestic distributors via their domestic distribution agent system, satisfying demands of the crop in the country, especially in the Southern West region.

At the meeting, PVCFC’s Vice Director Hoang Trong Dung affirmed: As the fertilizer producer satisfying about 40% of the domestic market demand, Ca Mau Fertilizer currently maintained its regular supply to the market to serve the fellow farmers. PVCFC would take measures to overcome some difficulties in delivery at the port caused by long heavy rains, promptly release products from warehouses. As Ca Mau Urea was a new product, PVCFC was carrying out various plans to quickly make products widely available to farmers, helping them get familiar with Ca Mau Urea.

After the working session, the task force of Ministry of Industry and Trade took a field survey of the warehouses and delivery process at the port to obtain actual details of urea supply to the market. Accordingly, the task force of Ministry of Industry and Trade requested PVCFC to submit complete reports, make specific proposals on product consumption and urge successful bidders to promptly receive the products, preventing stockpile built up at PVCFC’s warehouse, helping cool down the market now when it showed signs of price fever at some locations.