PhosAgro in 2021 increased the production of mineral fertilizers by 3.3%
In 2021, PhosAgro increased the production of mineral fertilizers by 3.3% to 10.3 million tons. Of their total volume, the output of phosphorus fertilizers and feed phosphates increased by 4.2% to 7.9 million tons, nitrogen fertilizers by 0.4% to 2.4 million tons.
“Over the 12 months of 2021, the company managed to increase the production of phosphorus fertilizers by 4.2% compared to the previous year. The output of the main brands of diammonium and monoammonium phosphate and NPK increased by 14.1% and 9.5%, respectively. This growth was supported by an increase in the production of phosphoric and sulfuric acids, as well as the recovery of ammonia production after the completion of scheduled repairs at the end of 3Q2021,” said PhosAgro CEO Andrey Guryev. “In early 2022, the prices in global markets are still on the high level due to the limitation of exports from China and strong demand for phosphorus fertilizers in India. At the same time, there is a correction in nitrogen fertilizer prices after the completion of the active phase of imports in most of the main sales markets.”