31 Oct 2018 16:08

PhosAgro ups fertilizer production 2% in Q3; maintains 2018 guidance at 9 mln tonnes

MOSCOW. Oct 31 (Interfax) - PhosAgro boosted production of fertilizer and feed phosphates 2% in Q3 2018 year-on-year to 2.1 million tonnes, the company said in a press release.

Fertilizer sales rose 9% to 2.2 million tonnes.

In 9M 2018, fertilizer production rose 10% to 6.7 million tonnes.

"With solid operating performance for the first nine months of the year and lower levels of maintenance expected in the fourth quarter, we are comfortable confirming our annual production guidance of nearly 9 million tonnes of finished products," PhosAgro CEO Andrey Guryev is quoted in the press release as saying.

PhosAgro increased production of MAP and NPK 14% year-on-year of the back of robust demand from Latin America and India, as well as seasonal demand in Russia. This was partially offset by declines in DAP and NPS volumes.

Ammonia output was up 13% although performance numbers were partially impacted by maintenance in September, which also affected urea production.

In 9M 2018 sales to CIS markets decreased by almost 60% year-on-year after the suspension of deliveries to Ukraine, which was fully offset by a more than 40% increase in sales to Europe and 30% growth in Latin America thanks to expanded on-the-ground presence with new local offices. Sales to North America and India rose by more than 50% year-on-year.