The PetroVietnam Ca Mau Fertiliser Company (PVCFC) generates 34.73 billion VND (nearly 1.5 million USD) in profit in the first two months of this year. (Photo: VNA) Hanoi (VNA) – The PetroVietnam Ca Mau FertiliserCompany (PVCFC) generated 34.73 billion VND (nearly 1.5 million USD) in profitin the first two months of this year, equivalent to 69 percent of its yearlyplan, despite unfavourable business conditions.
The company’s output surged 17 percent past theJanuary – February target to 157,000 tonnes of urea.
But it has faced various difficulties over thelast two months due to impact of the severe saline intrusion in the MekongDelta, its largest market in the country.
Saltwater has intruded theMekong Delta deeper and earlier than expected, affecting about 300,000 hectaresof land in the region, forcing local farmers to reduce rice-growing areas andshift to aquatic farming, thus making demand for fertilisers drop 15 – 20percent.
The global spread of the COVID-19 has also takena heavy toll on exports of regional agricultural products to major foreignmarkets, particularly China, causing big losses for farmers and agriculturalproducers.
To solve the problems, the PVCFC has worked hardto boost sales in areas not affected by saline intrusion, such as Cambodia, andcooperated with agricultural authorities to provide farmers with technicalsupport and new varieties to cushion the blow of drought and saltwaterintrusion.
The firm has partnered with the Mekong Deltaprovince of Soc Trang to conduct demonstrations of new high-quality paddy varietiesand advanced farming practices and instruct the farmers on how to use water andfertilisers effectively and test salinity.
It has signed an agreement with VietFarm todevelop bio-fertilisers and organic fertilisers to diversify it products andkeep up with higher market demand and modern agricultural trends./.
VNA
