PhosAgro increased fertilizer sales by 10%
On October 20, 2020, PhosAgro reported its operating results for 9 months of this year. According to the company’s press-release, the output of apatite and nepheline concentrates increased by 1.3% to 8.9 million tons, and the production of mineral fertilizers rose by almost 5% to 7.5 million tons. This growth was driven by the modernization of production facilities and efficiency improvements over the past year.
The sales of mineral fertilizers expanded by 10% to 7.9 million tons. Such significant growth happened due to the positive demand dynamics in priority markets. The share of sales of mineral fertilizers in the domestic market was 31%, which is comparable to the figure for the same period of 2019.
“Despite some improvements in the epidemiological situation during the summer period, we didn’t suspend the preventive measures introduced on the enterprise with the first signals of the coming epidemic. Therefore, while the whole world is facing the growth of the COVID-19 infection again, our company is fully prepared to continue operating at full capacity,” noted PhosAgro CEO Andrey Guryev.