Russia's PhosAgro posts solid rise in Jan-Sept fertilizer output, sales

29 October 2012 13:31  [Source: ICIS news]

LONDON (ICIS)--Russia-based PhosAgro on Monday posted a 6.3% year-on-year hike in nine-month phosphate-based fertilizer production volumes to 3.22m tonnes and a 12.8% rise in nitrogen-based fertilizer output to 787,200 tonnes.

The Moscow-headquartered company also announced a 7.2% year-on-year rise in phosphate-based fertilizer sales to 3.23m tonnes and a 12.8% jump in nitrogen-based fertilizer sales to 787,800 tonnes.

In a breakdown of production volumes for the January-September period, PhosAgro revealed its urea output surged 40.9% to 480,800 tonnes from 341,200 tonnes in the year-ago period, with ammonia output up 3% year-on-year to 823,600 tonnes but ammonium nitrate production down 32.3% year-on-year at 241,300 tonnes.

The company added output of DAP (diammonium phosphate) and MAP (monoammonium phosphate) slumped 20.1% to 1.53m tonnes from 1.92m tonnes in the first nine months last year, while production of sulphuric acid was virtually flat at 3.30m tonnes.

Nine-month ouput at the group's Apatit mine and beneficiation plant climbed 2% year-on-year to 6.64m tonnes, while sales of Apatit products grew 6.8% to 3.31m tonnes versus 3.1m tonnes in the same period of the year prior.

PhosAgro CEO Maxim Volkov said: “We continue to successfully execute our strategy of organic growth supported by flexible production and sales of our products. We maintained full utilisation of our production capacities during the first nine months of the year. Going forward, we will remain focused on further implementing our strategy, as well as on increasing the efficiency of our operations.”

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: Richard Ewing
+44 208 652 3214

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