Russia’s PhosAgro 2015 fertilizers sales volumes rise 8.9%

Jonathan Lopez

01-Feb-2016

Fertilizer marketsLONDON (ICIS)–PhosAgro’s total sales volumes in 2015 rose 8.9% year on year to 6.64m tonnes despite “challenging” conditions, prompting the fertilizers major on Monday to issue a positive outlook for 2016 for its home market with the Russian government raising subsidies to farmers.

A fall of sales during 2015 of nitrogen-based fertilizers, down 1.4% year on year to 1.37m tonnes, was offset by a healthy increase in phosphate-based fertilizers at 5.28m tonnes, a rise of 12% compared to 2014.

The group’s total production of fertilizers rose during 2015 by 10.4% to 6.79m tonnes, with both subproducts posting gains. PhosAgro produced 12.2% more phosphate-based fertilizers to 5.35m tonnes, while output of nitrogen-based fertilizers rose by 4% to 1.43m tonnes.  

“2015 was another challenging year in terms of the macroeconomic environment… Despite a difficult start to the year for Russian farmers, we managed to maintain sales volumes at the same level as 2014, with1.6 million tonnes supplied to domestic customers in 2015,” said PhosAgro’s CEO Andrey Guryev.

The company said during 2015 it had increased sales to Europe by 30% year on year to 1.25m tonnes while it said sales to India had risen “dramatically” to 700,000 tonnes during the year.

“Latin American market performance was weaker as a result of low soybean prices and economic challenges facing the region,” added Guryev.

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