This is the second PhosAgro office in Latin America, with the first opened several years ago in Sao Paulo, Brazil. Latin America is second only to PhosAgro’s domestic Russian market in terms of sales volumes, accounting for more than a quarter of exports of PhosAgro fertilizers.
"In 9M18, sales of PhosAgro products to Latin America increased by 30% y/y to almost 1.5 million t," said PhosAgro CEO Andrey Guryev. "The historic abolition of the 6% import duty on high-quality DAP in August 2017 opened up new opportunities in the Argentine market for Russian mineral fertilizers that contain very low levels of potentially hazardous impurities. In the future, we estimate PhosAgro's market share for complex phosphate-based fertilizers in Argentina will reach 15 – 20%.
“In 1H18, PhosAgro nearly tripled its sales to Argentina to 135 000 t. We plan to sell at 200 000 t of fertilizers annually in Argentina, thanks to a better understanding of market demand and an increase in direct sales," said Sergey Pronin, Deputy CEO for Sales and Marketing.
PhosAgro-Argentina is the company’s tenth foreign trading office, and third office outside continental Europe.
Read the article online at: https://www.worldfertilizer.com/phosphates/03122018/phosagro-opens-office-in-argentina/
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