Russia's Phosagro output of phosphate ferts up in first quarter

26 April 2012 16:05  [Source: ICIS news]

MOSCOW (ICIS)—Russia-based PhosAgro increased its production of phosphate-based fertilizers in the first quarter, although nitrogen fertilizers output was down duting the three-month period, the holding company said on Thursday.

From January-March 2012, Phosagro produced 1.08m tonnes of phosphate-based fertilizers, up 4.9% year on year.

However, the company’s production of nitrogen fertilizers during the quarter fell 12.2% year on year to 217,000 tonnes.

The company also produced 120,600 tonnes of urea in the January-March period, down 2.8% year on year, while ammonia nitrate output fell 21.6% to 96,300 tonnes

Phosagro’s production of ammonia during the period fell 14.4% year on year to 255,400 tonnes.

Phosagro CEO Maxim Volkov said that the increased production of phosphate-based fertilizers "was possible due to our successful strategy of organic growth through increasing processing of our own phosphate rock".

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

By: Sergei Blagov
+44 20 8652 3214

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