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Home » News » 1Q 2020 Operating Results: PhosAgro Increases Fertilizer Sales in the Russian Market
28.04.2020

1Q 2020 Operating Results: PhosAgro Increases Fertilizer Sales in the Russian Market

1Q 2020 Operating Results: PhosAgro Increases Fertilizer Sales in the Russian Market

PhosAgro, one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that its fertilizer sales in 1Q 2020 increased by 10% year-on-year to 2.8 million tonnes.

Production of phosphate rock and nepheline concentrate increased by 0.9% year-on-year to 2,995 kt. Production rose by 2.0% quarter-on-quarter.

Total fertilizer production in 1Q 2020 amounted to 2,546 kt. 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 8.0% quarter-on-quarter.

Sales of phosphate-based fertilizers grew by 8.2% year-on-year to 2,087 kt. 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% year-on-year and amounted to 702.8 kt. In quarter-on-quarter terms the growth was 30.9%.

Domestic fertilizer sales accounted for 33% of the total in 1Q 2020 (compared with 17% in 4Q 2019 and 24% 1Q 2019), driven by the Company’s focus on its priority Russian market and the strong recovery in domestic demand.

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