PhosAgro outfits up phosphoric fertilizer output 3.6% in Jan-Sept
MOSCOW. Nov 3 (Interfax) - Companies in the PhosAgro holding increased their production of phosphoric fertilizers 3.6% year-on-year to 3.026 million tonnes in Q1-Q3, a PhosAgro statement says.
Nitrogen fertilizer output was up 4.4% at 697,600 tonnes.
OJSC Apatit's production went down by 4.3% to 6.504 million tonnes (production of miscellaneous items went up by 8.9% to 5.38 million tonnes).
PhosAgro's president and CEO, Maxim Volkov was quoted as saying in the statement: "Higher output of phosphate-based and nitrogen-based fertilizers during 9M 2011 was due to strong demand, which in turn was driven by high soft commodity prices combined with historically low fertilizer stockpiles. Farmers continue to invest in increasing crop output, including through increased applications of crop nutrients."
He also said: "Our 9M 2011 performance demonstrates that fertilizers continue to benefit from strong fundamental drivers, and are less susceptible to the volatility seen in global financial markets. We remain optimistic that phosphate fertilizer demand will remain strong in the medium term."
The holding's 9mth production results (in thousands of tonnes):
| Jan-Sept 2011 | Jan-Sept 2010 | Change | |
| OJSC Apatit's production results | |||
| Phosphate ore | 19 990.3 | 20 060.8 | -0.4% |
| Phosphate rock | 5 762.2 | 6 060.3 | -4.9% |
| Nepheline | 746.3 | 734.3 | 1.0% |
| Phosphate-based fertilizers | |||
| DAP | 698.5 | 1 342.8 | -48.0% |
| MAP | 1 216.3 | 551.2 | 120.7% |
| NPK | 831.6 | 774.4 | 7.4% |
| NPS | 64,3 | 27.7 | 132.4% |
| APP | 44.7 | 38,6 | 15.5% |
| MCP | 168.9 | 183.2 | -7.8% |
| Other Phosphate Fertilizers | 1.3 | 1,4 | -8.6% |
| Nitrogen-based fertilizers | |||
| AN | 356.4 | 273.9 | 30.1% |
| NP | 0 | 30.0 | -100.0% |
| Urea | 341.2 | 364.1 | -6.3% |
| Other products | |||
| AlF3 | 18.0 | 16,9 | 6.1% |
| Ammonia | 799.6 | 796.5 | 0.4% |
| Phosphoric acid | 1 275.2 | 1 220.0 | 4.5% |
| Sulphuric acid | 3 287.4 | 2 908.6 | 13.0% |
PhosAgro produces mineral fertilizers from phosphate. The group includes Ammophos and Cherepovets Azot , both of Vologda region, Balakovskye Minudobreniya in Saratov region, and Apatit. The company also owns the transport and export firm, LLC PhosAgro-Trans.