PhosAgro says fertilizer exports rise by 8% in January–April

ST. PETERSBURG, Jun 19 (PRIME) -- Mineral fertilizer exports of Russian fertilizer producer PhosAgro increased by 8% on the year in January–April, including exports to Europe that fell by 10% and to Latin America that rose by 50%, Deputy CEO for Finance and International Projects Alexander Sharabaiko told reporters on Monday.

“We are very flexible and have ideal conditions with a possibility to send any product to any region. In the first four months, exports grew by 8%. As to the regions, Europe is minus 10%, Latin America is plus 50% year-on-year,” he said on the sidelines of the St. Petersburg International Economic Forum.

“Southeast Asia is also in minus, besides India, which means that (exports) are lower than last year, and North America is in the plus,” he said.

CEO Mikhail Rybnikov said that Russia remains the company’s priority market.

“This year were have more ambitious output plans than last year, 11.3 million tonnes. And the products will be distributed basing on a clear factor – the priority of Russia’s market. Everything that our farmers have not purchased is to be exported,” he said.

Sharabaiko said that PhosAgro does not plan to issue new bonds, but is focused on issuing replacement bonds.

PhosAgro is considering alternatives to listing on the London Stock Exchange, mainly, the South Pacific region, he also said.

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