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PhosAgro says exports up 8% in four months, supplies to Latin America by 50%

The company’s output plan for 2023 is 11.3 mln tons

ST. PETERSBURG, June 19. /TASS/. PhosAgro boosted exports of fertilizers by 8% in the first four months of this year compared with the same period in 2022, and supplies to Latin America soared by 50%, while deliveries to Europe fell by 10%, Chief Financial Officer Alexander Sharabaika told reporters at the St. Petersburg International Economic Forum.

"In the (first) four months, exports rose by 8% year-on-year, to Europe - down by 10%, to Latin America - up by 50%. Supplies to Southeastern Asia were less than last year, [deliveries to - TASS] North America increased. Following a surge in supplies to India last year, more than five-fold (to 2.7 mln tons), we have maintained high volumes of shipments to the country this year as well," he said.

As the company sells fertilizers on the spot market, the overall picture of exports by the end of the year will depend on the geography of solvent demand, the CFO added. "The Russian market is the priority. We export everything that remains after the growing demand of Russian farmers is satisfied. At the moment, we are obviously seeing an increase in interest from India and Latin America. In Europe, we see some decline in interest," he said.

The company’s output plan for 2023 is 11.3 mln tons.

The 26th St. Petersburg International Economic Forum - Russia’s showcase annual economic and business event - was held on June 14-17. 'Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations' was the theme of this year’s forum. TASS is the official information partner of the event.

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