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September 24, 2022
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Does Pequiven sell the raw material at a discount to Monómeros?

Does Pequiven sell the raw material at a discount to Monómeros?

The Panamanian-flagged vessel Apogee Endeavor arrived at the Monómeros terminal bound for the company in the city of Barranquilla in Colombia. Until now, the new terms for the supply and sale of raw material by Pequiven are unknown.


A shipment with 16,000 tons of urea arrived in Colombia this Friday, September 23, from the Venezuelan state-owned Pequiven. The shipment was sent to the subsidiary in that country Monómeros to produce fertilizers.

According to information from the Colombian Foreign Ministry, The cargo was sold by Venezuela much cheaper than the average price that this input currently has in the international market. Regarding this, many wonder if the administration of Nicolás Maduro sold the merchandise at a discount, as is the case with a barrel of oil, to ensure its placement, since in this case Monómeros is also a company that is sanctioned by the United States and hangs over it. a license to operate.

The state-owned PDVSA, for example, has currently exported Venezuelan crude at discounts of up to 40%, which has generated a loss of income for the country.

With the resumption of diplomatic and commercial relations between Colombia and Venezuela, after the arrival of Gustavo Petro to the Colombian presidency last August, Monómeros was returned to Maduro to regain control of its operations and administration. Until now, the terms of the negotiations between the two countries on the supply and sale of raw material by Pequiven are unknown.

The Colombian ambassador to Venezuela, Armando Benedetti, announced through his official Twitter account that a ship with 16,000 tons of urea for the Monómeros company arrived in the city of Barranquilla. with an agreed price of 600 dollars per ton. The Panamanian-flagged vessel Apogee Endeavor arrived at the Monómeros terminal bound for the company, coming from the Jose Terminal port, in Anzoátegui state.

«The ship with more than 16,000 tons of urea has already arrived in Barranquilla, at Pier 1 of Monómeros, at 600 dollars per ton. This is great news for the farmers, because they will save 100 dollars per ton”, said Benedetti.

Hours before, Benedetti assured that the price of tons of this product in the international market is a little more than 900 dollars, for which he boasted of having achieved success with this reduction. And he was not wrong, since a 30% lower price was obtained.

“In the next few hours, a ship will arrive at the port of Barranquilla, which I managed on behalf of President Gustavo Petro, with more than 16,000 tons of urea from Venezuela. They charge us 600 USD per ton. ANDn the market, the ton is between 730 and 930 USD”, affirmed the Colombian ambassador.

Given these prices, the state Pequiven would then have stopped receiving some 5,200 million dollars, since at $600 a ton the amount to enter the country is $9,600 million; while if it were sold at a maximum of $930 per ton, some $14.8 billion would have been obtained.

The Sectoral Vice President of Economy and Petroleum, Tareck El Aissami, had already announced this Thursday, September 22, the arrival of a Venezuelan ship to Colombia with raw material, including urea and fertilizers produced by the Petrochemical company of Venezuela (Pequiven).

“We are going to start in the next few hours, because we are working on the recovery and maintenance of the dock so that the first ship that is already in Colombian waters can dock. Ship that carries urial raw material and fertilizers produced by Pequiven to restore the marketing chain immediately for the agricultural sector of Colombia », he said.

El Aissami stated that this is one of the first steps for Monómeros to return “to being the main and most important company in the Colombian agricultural production sector.”

*Read also: Venezuela orders international capture of 23 people for Monomeros case

For his part, the president of Pequiven, Pedro Tellechea Ruiz, confirmed to the newspaper The Herald that in the next few days another ship with ammonia and methanol will arrive in Barranquilla.

“We produce all the ammonia that Monomers needs, we produce methanol that the company needs to market, as well as industrial products, and that is what we have to rescue again, to sell our industrial products, recover all the spaces and continue marketing the chain Production of Monomers”, the official stressed.

On this subject, sources from the Venezuelan chemical sector told SuchWhich that the domestic market has had difficulties in accessing the raw material provided by Pequiven, which is why it is striking and worrying that a very large part of the inputs are taken by Monomers in Colombia.

“The availability of raw material is still low because the plant was stopped. There is a possibility that this shipment was in inventory,” said a source who requested anonymity.

They also pointed out that what is known so far is that Pequiven is making efforts to get the plants up and running, but that it is a process that takes time if they are largely committed to Monomers.

“It is not like passing the switch and turning on the light, that takes a process that takes approximately 30 to 45 days of testing before starting. How well are they working? I think it’s not quite. In any case, it is positive that a plant that has been paralyzed for several years, efforts are being made to start up, “said another of the sources consulted who preferred to keep his name confidential.


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