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.
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".
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