Venezuela fertilizer exports seen 1m tonnes in '08

24 January 2008 19:40  [Source: ICIS news]

CARACAS (ICIS news)--Venezuela's Pequiven expects to boost fertilizer production this year and export approximately 1m tonnes, the state-run company said on Thursday.

In a release, the company said it expects to produce 2.5m tonnes of fertilizer, compared with 2007's production of 2m tonnes. National demand for fertilizers in 2008 is projected at 1.5m tonnes, so the petrochemical company plans to export the remaining supplies.

The company released the figures following meetings with the National Association of Cotton Growers, an important end-market group, and the Popular Ministry for Agriculture and Lands.

Pequiven said it was laying out its plans with growers now in hopes of avoiding a rush of last-minute purchases during the harvesting season, which can cause havoc in the distribution chain.

Total production will consist of 990,000 tonnes of urea, 300,000 tonnes of nitrogen, phosphorous and potash (NPK), 210,000 tonnes of diammonium phosphates (DAP) and 73,000 tonnes of ammonium sulphate.

The state producer was recently assailed by local agricultural associations following news that spread through the farming community that the company was raising prices by as much as 40% for some agro-chemicals.

Pequiven president Saul Ameliach denied that the state had increased fertilizer prices and apologized for the confusion, which he said was caused by an unofficial internal memo making its way into the public and exploited by middlemen.

By: Jasmina Kelemen
+1 713 525 2653

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