PhosAgro reports 1Q20 operating results
Published by Nicholas Woodroof,
Editor
World Fertilizer,
Production of phosphate rock and nepheline concentrate increased by 0.9% y/y to 2.95 million t. Production rose by 2% quarter-on-quarter.
Total fertilizer production in 1Q20 amounted to 2.54 million t. Year-on-year growth of 8.6% was due to upgrades to production capacities and efficiency gains achieved during the previous year. Total fertilizer production was up 8% quarter-on-quarter.
Sales of phosphate-based fertilizers grew by 8.2% y/y to 2.08 million t. The increase reached 20.1% quarter-on-quarter on the back of a recovery in seasonal demand and positive demand expectations for agricultural products.
Sales of nitrogen-based fertilizers rose by 13.8% y/y and amounted to 702 000 t. In quarter-on-quarter terms the growth was 30.9%.
Domestic fertilizer sales accounted for 33% of the total in 1Q20 (compared with 17% in 4Q19 and 24% 1Q19), driven by the company's focus on its priority Russian market and the strong recovery in domestic demand.
Read the article online at: https://www.worldfertilizer.com/phosphates/23042020/phosagro-reports-1q20-operating-results/
You might also like
Ma’aden emphasises importance of fertilizer industry at IFA conference
The company highlighted the role of the fertilizer industry by addressing global agricultural value chain challenges at the IFA conference in the Czech Republic.