PhosAgro predicts an increase in the production of mineral fertilizers

As PhosAgro CEO Mikhail Rybnikov reports, this year, the company plans to expand its production of mineral fertilizers by 3-4% to 10.8 million tons.

However, PhosAgro cannot predict the export volume for 2022 due to an increase in the plan of the Ministry of Agriculture of Russia for the supply of mineral fertilizers to domestic farmers by 22%.

“If Russian farmers complete the purchases in full, exports will not be able to grow, because the plan of the Ministry of Agriculture provides for a significant increase in domestic consumption. If the plan is not met, then we will be able to export more,” explained Mikhail Rybnikov.

He also supposed that the quotas for the export of mineral fertilizers might be increased by autumn as domestic demand is fully met.

Source: TASS