Uralkali sales have plummeted

Uralkali has published its results for the past year.

According to the press release, the revenue increased by 1% to $ 2.782 billion. Uralkali’s net profit in 2019 amounted to $ 1.207 billion, compared with a loss of $ 97 million in 2018.

Potassium chloride production decreased by 3.5% to 11.1 million tons, the sales went down by 11.7% to 9.8 million tons.

Out of the total sales volume of potassium chloride, sales to the Russian market decreased by 7.7% to 2.4 million tons, and the export fell by 12.9% to 7.4 million tons.

The Uralkali press release explains the drop in sales by the insufficient demand in the global market amid strong supply.