MOSCOW, April 25. /TASS/. PhosAgro increased supplies of agrochemical products to India fivefold last year, exports to other Asian countries more than doubled, while shipments to Africa rose by a quarter, the producer of fertilizers said in a statement following its board meeting.

"The Board of Directors of PJSC PhosAgro, one of the world’s leading vertically integrated phosphate-based fertilizer producers, noted at its meeting that the company had increased exports to emerging markets while maintaining its top priority of supplying the Russian market and maintaining its leading position in that market. <…> In the face of external restrictions, the company quickly redirected its export flows, increasing supplies to emerging markets. For example, PhosAgro increased its exports of agrochemical products to India in 2022 more than fivefold, reaching 2.7 million tons. Supplies to other Asian countries more than doubled, to 0.4 million tons," the statement reads.

PhosAgro is also Russia’s largest exporter of fertilizers to Africa, with shipments to the continent increasing by a quarter to 0.5 mln tons, according to the statement.

"The company’s production of agrochemical products in this period rose by 6.1% year-on-year. Notably, production of nitrogen-based fertilizers increased by 7.3%, phosphate-based fertilizers and feed phosphates - by 5.8%," PhosAgro CEO Mikhail Rybnikov was quoted as saying.

The company did not disclose its output results for the first quarter of last year.

PhosAgro plans to produce 11.3 mln tons of agrochemical products in 2023.