July 27, 2012

Russia's Phosagro sales up 6.6% in H1

A 6.6% on year rise in first half sales of phosphate fertilisers to 2.1 million tonnes has been reported by Russian fertiliser firm Phosagro on Thursday (July 26) and provided a positive outlook for the rest of the year.

The world's second largest maker of phosphate fertilisers also said production totalled 2.2 million tonnes in the period, up 6.4%, on-year.

"With soft commodities prices exceptionally high and balanced supply and demand in the phosphate fertiliser market, our view for the rest of 2012 remains positive," Chief Executive Officer Maxim Volkov said in a statement.

The fertiliser industry has been a hot sector for investors over the last year, as the globally rising population and unpredictable weather patterns have piled pressure on food supplies.