PhosAgro increased the production of agrochemicals to almost 10 million tons
PhosAgro has reported on the results of the production of mineral fertilizers for the previous year. According to the company’s report, the output of mineral fertilizers increased by 5% to 9.980 million tons, including phosphorus fertilizers by 4.4% to 4.578 million tons and nitrogen fertilizers by 6.7% to 2.402 million tons.
The sales of mineral fertilizers rose by 5.3% to 9.955 million tons. Of which the sales of phosphorus fertilizers increased by 7.669 million tons and nitrogen by 4% to 2.286 million tons.
“The market conditions have been favorable for us throughout the year. High demand and availability of fertilizers, as well as restrictions on the production of phosphorus fertilizers in global markets, allowed us to increase sales of this type of product by more than 5% compared to the last year. The growth in fertilizer production and the improvement in the structure of produced brands in favor of high-margin compound fertilizers allowed us to strengthen our position in the Russian market and increase sales to Russian farmers by almost 10%,” said PhosAgro CEO Andrey Guryev.