25 October 2007 20:04 [Source: ICIS news]
LONDON (ICIS news)--Russian fertilizer and chemical company EuroChem Mineral Company has significantly increased production at a phosphate fertilizer plant, due to favourable prices and strong demand, the company said on Thursday.
The company’s Kingisepp facility produced 404,100 tonnes of monammonium phosphate (MAP) fertilizer in the first nine months of 2007, up 58,000 tonnes or 17% year on year compared to 2006.
Increased demand for MAP in both local regional markets, such as ?xml:namespace>
Russian MAP prices have firmed considerably during 2007, from around $250/tonne (€175/tonne) FOB (free on board) Baltic in January to current prices of $470/tonne FOB, fuelled by strong demand in Europe; itself fuelled by high commodity prices as well as healthy demand in Latin America.
The Kingisepp facility, located in the
Other Russian MAP producers include PhosAgro.
$1 = €0.70
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