GGC forecasts 20% sales growth, revenue steady amid falling prices

Global Green Chemicals (GGC), the biochemical subsidiary of PTT Global Chemical (PTTGC), anticipates a 20% increase in sales this year, primarily driven by palm oil-based products. However, overall revenue for PTTGC’s Biochemical subsidiary, GGC is expected to remain steady due to a decrease in product prices.

Kridsada Prasertsuka, PTTGGC Biochemical’s managing director, attributes the sales increase to the rising demand for palm oil-derived methyl ester, or biodiesel 100 (B100). This biofuel is blended with diesel as part of a government initiative to reduce reliance on fossil fuels. Sales of fatty alcohol and refined glycerin, used as raw materials in cosmetics, pharmaceuticals, detergents, and surfactants, are also projected to grow by 5-10%.

Despite the sales growth, Kridsada expects the company’s revenue in 2023 to remain at a similar…