Russia's PhosAgro Jan–Sept nitrogen fertilizer output up by 4.4%

03 November 2011 14:12  [Source: ICIS news]

MOSCOW (ICIS--Fertilizer production at PhosAgro was up in the first three-quarters of 2011 compared with the same period last year, the Russian holding company said on Thursday.

From January–September 2011, PhosAgro produced 697,600 tonnes of nitrogen fertilizers, up by 4.4% year on year, the company added.

The company produced 356,400 tonnes of ammonium nitrate (AN), a year-on year rise of 30%, while urea output was down by 6% at 341,200 tonnes.

Ammonia output rose by 0.4% year on year to 799,600 tonnes.

Increased production of nitrogen fertilizers followed growing demand, said company CEO Maxim Volkov. The ongoing growth of the fertilizer market relies on fundamentals without being strongly affected by volatility in the global financial markets, he added.

PhosAgro controls Azot Cherepovets and Ammophos in the Vologda region of northern Russia, Balakovo Mineral Fertilizers in the Saratov region of central Russia, and the Apatit mining company in northern Russia.

By: Sergei Blagov
+44 20 8652 3214

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