Gomel Chemical Plant redirected its exports

In 2022, the Gomel Chemical Plant (Belarus) was forced to change the geography of foreign supplies due to impost western sanctions, its director Dmitry Chernyakov said.

“In early March, we suddenly lost 95% of exports, which accounted for 70% of our revenue, and were left with a loss-making domestic market. The fact is that for five years the company did not raise prices for fertilizers within the country, as it managed to cover losses in the domestic market with export earnings,” Dmitry Chernyakov claimed.

According to his statement, the Gomel Chemical Plant found a way out of the situation by raising prices on the domestic market and reorienting exports to Russia, Libya, and China.

“We have concentrated our efforts on reorienting exports from the closed neighboring market of Ukraine, which is about 360-430 thousand tons annually,” Dmitry Chernyakov noted.

During six months of the previous year, over 200 thousand tons of NPK fertilizers were sold on the Russian market.
In 2023, the company plans to increase output by 5.3% and exports – by 5%.

Source: TASS

Add Fertilizer Daily to your followed sources to get market news first  

Enjoyed the story?

Once a week, our subscribers get their hands first on hottest fertilizer and agriculture news. Don’t miss it!