PJSC PhosAgro boosted its January-April exports of fertilizers by 8%, to 4 million mt versus the same period last year, with shipments to Latin America up by 50%, according to an Interfax report, citing PhosAgro CFO Alexander Sharabaika speaking to reporters at the St. Petersburg International Economic Forum on June 14-17.
The Russian fertilizer group’s deliveries to North America also increased, but Sharabaika did not disclose the level of the increase nor the export volumes. Sharabaika said export volumes to Europe were down 10% year-over-year, and supplies to Southeast Asia (excluding India) also decreased.
He highlighted, however, that PhosAgro has maintained “high volumes” of shipments to India so far this year following a surge last year. The group reported in April that it increased its exports of agrochemical products to India “more than fivefold” in 2022, reaching 2.7 million mt “in the face of external restrictions” (GM April 28, p. 31).
PhosAgro increased 2022 fertilizer sales by 6.4%, to 11.1 million mt, a volume described by the group as the highest in its history and up from 10.43 million mt the previous year (GM March 10, p. 26).
Sharabaika also reported that PhosAgro’s target to produce 11.3 million mt in full-year 2023 remains on track. If the production target is achieved, it would be a 2% increase over 2022. The group said its output increased by 6% in the first quarter of this year, but provided no actual volumes (GM April 7, p. 26).