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午夜国产精品视频在线,yy6080高清午夜场理论

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2Q and 1H 2020 Operating Results

22 July 2020
2Q and 1H 2020 Operating Results: PhosAgro Breaks 5 mln Tonne Record for Fertilizer Production in Half Year, Increasing Production by Nearly 7%

Moscow – PhosAgro (the “Company”, the “Group”, MOEX, LSE: PHOR), one of the world’s leading vertically-integrated phosphate-based fertilizer producers, reports that fertilizer sales increased by 10% year-on-year to 5.2 million tonnes in 1H 2020.

 

2Q and 1H 2020 highlights

 

In 1H 2020, production of phosphate rock and nepheline concentrate increased by 1.2% year-on-year to 5.9 million tonnes. In 2Q 2020, production increased by 1.6% year-on-year to 2,976.4 thousand tonnes.

 

In 1H 2020, fertilizer production increased by almost 7% year-on-year to 5.0 million tonnes. This growth was the result of upgrades to production capacities and efficiency gains achieved during the previous year. Total fertilizer production in 2Q 2020 amounted to 2,458.6 thousand tonnes, an increase of 4.3% year-on-year.

午夜国产精品视频在线,yy6080高清午夜场理论  

Fertilizer sales in 1H 2020 increased by more than 10% year-on-year to 5.2 million tonnes due to positive performance in the Company’s priority sales markets. In 2Q 2020 fertilizer sales amounted to 2,392.9 thousand tonnes, an increase of 10.8% year-on-year.

 

Domestic fertilizer sales accounted for 30% of the total in 1H 2020, the same as a year earlier.

 

PhosAgro production and sales volumes



Production volumes by category

午夜国产精品视频在线,yy6080高清午夜场理论 (kt)

午夜国产精品视频在线,yy6080高清午夜场理论 1H 2020

1H 2019

午夜国产精品视频在线,yy6080高清午夜场理论 Chg

午夜国产精品视频在线,yy6080高清午夜场理论 2Q 2020

午夜国产精品视频在线,yy6080高清午夜场理论 2Q 2019

Chg

午夜国产精品视频在线,yy6080高清午夜场理论 Phosphate-based & MCP

3,807.5

午夜国产精品视频在线,yy6080高清午夜场理论 3,559.8

午夜国产精品视频在线,yy6080高清午夜场理论 7.0%

1,869.6

1,782.2

午夜国产精品视频在线,yy6080高清午夜场理论 4.9%

Nitrogen-based fertilizers

1,206.4

午夜国产精品视频在线,yy6080高清午夜场理论 1,141.8

午夜国产精品视频在线,yy6080高清午夜场理论 5.7%

589.0

574.2

2.6%

TOTAL fertilizers

午夜国产精品视频在线,yy6080高清午夜场理论 5,013.9

4,701.6

午夜国产精品视频在线,yy6080高清午夜场理论 6.6%

2,458.6

2,356.4

午夜国产精品视频在线,yy6080高清午夜场理论 4.3%

Phosphate rock and nepheline concentrate

5,931.3

5,858.7

1.2%

2,976.4

午夜国产精品视频在线,yy6080高清午夜场理论 2,930.5

1.6%

午夜国产精品视频在线,yy6080高清午夜场理论 Other products

午夜国产精品视频在线,yy6080高清午夜场理论 101.6

86.9

午夜国产精品视频在线,yy6080高清午夜场理论 16.9%

51.5

39.9

29.1%

 

午夜国产精品视频在线,yy6080高清午夜场理论 Sales volumes by category

(kt)

1H 2020

1H 2019

午夜国产精品视频在线,yy6080高清午夜场理论 Chg

2Q 2020

2Q 2019

Chg

Phosphate-based & MCP

3,876.7

午夜国产精品视频在线,yy6080高清午夜场理论 3,557.8

9.0%

1,789.4

午夜国产精品视频在线,yy6080高清午夜场理论 1,628.8

9.9%

Nitrogen-based fertilizers

1,306.3

1,148.3

午夜国产精品视频在线,yy6080高清午夜场理论 13.8%

603.5

530.9

午夜国产精品视频在线,yy6080高清午夜场理论 13.7%

午夜国产精品视频在线,yy6080高清午夜场理论 TOTAL fertilizers

午夜国产精品视频在线,yy6080高清午夜场理论 5,183.0

4,706.1

10.1%

午夜国产精品视频在线,yy6080高清午夜场理论 2,392.9

午夜国产精品视频在线,yy6080高清午夜场理论 2,159.7

10.8%

Phosphate rock and nepheline concentrate

午夜国产精品视频在线,yy6080高清午夜场理论 2,159.7

2,263.7

午夜国产精品视频在线,yy6080高清午夜场理论 -4.6%

1,084.0

1,142.0

午夜国产精品视频在线,yy6080高清午夜场理论 -5.1%

Other products

90.7

午夜国产精品视频在线,yy6080高清午夜场理论 89.7

1.1%

午夜国产精品视频在线,yy6080高清午夜场理论 39.1

午夜国产精品视频在线,yy6080高清午夜场理论 40.5

午夜国产精品视频在线,yy6080高清午夜场理论 -3.5%

 

午夜国产精品视频在线,yy6080高清午夜场理论  

午夜国产精品视频在线,yy6080高清午夜场理论  

午夜国产精品视频在线,yy6080高清午夜场理论  

 

 

PhosAgro CEO Andrey Guryev said:

 

午夜国产精品视频在线,yy6080高清午夜场理论 “Given the ongoing epidemic risks, ensuring the safety of PhosAgro’s workforce remains the Company’s priority. Our enterprises continue to implement the comprehensive measures introduced when we saw the first signs of the impending pandemic. The issue of the safety of the Company’s employees is inseparable from ensuring the health, including protection against the virus, of all of the residents of the cities where we operate. Due to the pandemic, we have bolstered our traditional support for local hospitals and clinics by purchasing needed equipment, including personal protective equipment.

 

“Separately, I am proud to note a 40% year-on-year decrease in LTIFR in the first half of 2020 to 0.54 (compared to 0.9 for the first six months of 2019). We did not have any fatal accidents during this period.

 

午夜国产精品视频在线,yy6080高清午夜场理论 “This positive development was the result of a comprehensive programme to transform PhosAgro’s safety culture in an effort to prevent accidents and injuries. Every incident and potentially dangerous situation is investigated, and preventive measures are taken to prevent similar incidents from occurring in the future.

 

午夜国产精品视频在线,yy6080高清午夜场理论 “Looking at the Company’s operating results for the first half of 2020, I would like to note that at a time when the world has been facing a challenging situation with the COVID-19 pandemic, we were able to increase fertilizer production by nearly 7% year-on-year, while sales of finished products grew by 10% to 5.2 million tonnes.

午夜国产精品视频在线,yy6080高清午夜场理论  

“I would also highlight the 12% increase in sales of phosphate-based fertilizers to Russian farmers. This is a very important indicator for us: we consider the Russian market a priority, and we aim to further strengthen our positions in Russia as part of our long-term development strategy.

午夜国产精品视频在线,yy6080高清午夜场理论  

午夜国产精品视频在线,yy6080高清午夜场理论 “In terms of global fertilizer markets, prices in the second quarter remained stable, with an upward trend, despite the end of seasonal demand in Europe, the United States and Russia. At the same time, we saw higher demand in the markets of India and Latin America.”

午夜国产精品视频在线,yy6080高清午夜场理论  

Production volumes by type

Production volumes by category

(kt)

1H 2020

1H 2019

Chg

2Q 2020

2Q 2019

Chg

Phosphate rock

5,354.2

5,258.4

1.8%

午夜国产精品视频在线,yy6080高清午夜场理论 2,684.6

2,621.0

2.4%

Nepheline concentrate

午夜国产精品视频在线,yy6080高清午夜场理论 577.1

600.3

-3.9%

午夜国产精品视频在线,yy6080高清午夜场理论 291.8

309.5

-5.7%

午夜国产精品视频在线,yy6080高清午夜场理论 TOTAL

5,931.3

5,858.7

1.2%

2,976.4

午夜国产精品视频在线,yy6080高清午夜场理论 2,930.5

1.6%

Phosphate-based fertilizers

DAP/MAP

午夜国产精品视频在线,yy6080高清午夜场理论 1,617.1

1,611.9

0.3%

午夜国产精品视频在线,yy6080高清午夜场理论 770.8

799.0

午夜国产精品视频在线,yy6080高清午夜场理论 -3.5%

NPK

1,386.6

1,301.4

6.5%

693.2

午夜国产精品视频在线,yy6080高清午夜场理论 701.6

午夜国产精品视频在线,yy6080高清午夜场理论 -1.2%

NPS

午夜国产精品视频在线,yy6080高清午夜场理论 444.0

午夜国产精品视频在线,yy6080高清午夜场理论 311.4

午夜国产精品视频在线,yy6080高清午夜场理论 42.6%

235.0

113.1

午夜国产精品视频在线,yy6080高清午夜场理论 107.8%

午夜国产精品视频在线,yy6080高清午夜场理论 APP

午夜国产精品视频在线,yy6080高清午夜场理论 116.7

85.6

午夜国产精品视频在线,yy6080高清午夜场理论 36.3%

58.0

36.0

午夜国产精品视频在线,yy6080高清午夜场理论 61.1%

MCP

午夜国产精品视频在线,yy6080高清午夜场理论 202.2

185.9

午夜国产精品视频在线,yy6080高清午夜场理论 8.8%

午夜国产精品视频在线,yy6080高清午夜场理论 101.9

89.4

14.0%

午夜国产精品视频在线,yy6080高清午夜场理论 PKS

40.9

63.6

-35.7%

午夜国产精品视频在线,yy6080高清午夜场理论 10.7

午夜国产精品视频在线,yy6080高清午夜场理论 43.1

午夜国产精品视频在线,yy6080高清午夜场理论 -75.2%

午夜国产精品视频在线,yy6080高清午夜场理论 TOTAL

午夜国产精品视频在线,yy6080高清午夜场理论 3,807.5

3,559.8

午夜国产精品视频在线,yy6080高清午夜场理论 7.0%

1,869.6

1,782.2

4.9%

Nitrogen-based fertilizers

AN

362.8

283.8

27.8%

午夜国产精品视频在线,yy6080高清午夜场理论 180.9

138.5

午夜国产精品视频在线,yy6080高清午夜场理论 30.6%

Urea

843.6

858.0

午夜国产精品视频在线,yy6080高清午夜场理论 -1.7%

408.1

435.7

午夜国产精品视频在线,yy6080高清午夜场理论 -6.3%

TOTAL

午夜国产精品视频在线,yy6080高清午夜场理论 1,206.4

1,141.8

5.7%

589.0

574.2

2.6%

TOTAL fertilizers

午夜国产精品视频在线,yy6080高清午夜场理论 5,013.9

4,701.6

6.6%

2,458.6

午夜国产精品视频在线,yy6080高清午夜场理论 2,356.4

午夜国产精品视频在线,yy6080高清午夜场理论 4.3%

午夜国产精品视频在线,yy6080高清午夜场理论 Other products

STPP

47.6

52.1

-8.6%

21.7

25.9

午夜国产精品视频在线,yy6080高清午夜场理论 -16.2%

午夜国产精品视频在线,yy6080高清午夜场理论 Other

午夜国产精品视频在线,yy6080高清午夜场理论 54.0

午夜国产精品视频在线,yy6080高清午夜场理论 34.8

午夜国产精品视频在线,yy6080高清午夜场理论 55.0%

午夜国产精品视频在线,yy6080高清午夜场理论 29.8

午夜国产精品视频在线,yy6080高清午夜场理论 14.0

112.9%

午夜国产精品视频在线,yy6080高清午夜场理论 TOTAL other products

101.6

86.9

16.9%

51.5

39.9

29.1%

 

Feedstocks

Ammonia

1,012.6

午夜国产精品视频在线,yy6080高清午夜场理论 985.6

2.7%

505.0

午夜国产精品视频在线,yy6080高清午夜场理论 494.0

午夜国产精品视频在线,yy6080高清午夜场理论 2.2%

Phosphoric acid

午夜国产精品视频在线,yy6080高清午夜场理论 1,380.6

1,349.2

2.3%

684.8

675.3

1.4%

午夜国产精品视频在线,yy6080高清午夜场理论 Sulphuric acid

午夜国产精品视频在线,yy6080高清午夜场理论 3,393.9

3,020.3

午夜国产精品视频在线,yy6080高清午夜场理论 12.4%

午夜国产精品视频在线,yy6080高清午夜场理论 1,714.0

午夜国产精品视频在线,yy6080高清午夜场理论 1,521.9

12.6%

午夜国产精品视频在线,yy6080高清午夜场理论 Ammonium sulphate

143.1

0.0

n/a

75.9

0.0

n/a

午夜国产精品视频在线,yy6080高清午夜场理论 TOTAL feedstocks

午夜国产精品视频在线,yy6080高清午夜场理论 5,930.2

5,355.1

10.7%

午夜国产精品视频在线,yy6080高清午夜场理论 2,979.7

2,691.2

午夜国产精品视频在线,yy6080高清午夜场理论 10.7%

 

In 1H 2020, production in the phosphate segment grew 7.0% year-on-year due to higher productivity of existing production lines for phosphoric acid and phosphate-based fertilizers. This was made possible through improvements to the technology used to produce phosphoric acid and the completion of upgrades to fertilizer production lines at the end of last year. In 2Q 2020, fertilizer production increased 4.9% year-on-year.

 

In the nitrogen segment, production in 1H 2020 increased by 5.7% year-on-year due to a 27.8% increase in the production of ammonium nitrate to 362.8 thousand tonnes. This was made possible thanks to the launch of a new production line for nitric acid, which is the main feedstock in the production of ammonium nitrate, and maintenance on the existing line, which increased hourly productivity.

 

午夜国产精品视频在线,yy6080高清午夜场理论 In 1H 2020, sulphuric acid production increased by 12.4% year-on-year to 3.4 million tonnes due to the launch of test production runs at the new sulphuric acid production line in Cherepovets in the middle of 1Q 2020. This also had an impact on year-on-year production growth in 2Q 2020. With a nameplate capacity of up to 1,100 kt per year, the new line should increase the Company’s self-sufficiency in this feedstock.

 

As part of the Strategy-2025, PhosAgro ramped up its production line for synthetic ammonium sulphate in Cherepovets to full capacity (up to 300 kt per year), which will enable the enterprise to reduce its external purchases of ammonium sulphate by more than 50%. Synthetic ammonium sulphate is used as a feedstock for the production of sulphur-containing NPK(S) grades of fertilizers, and it reduces their production cost compared with purchased ammonium sulphate.

午夜国产精品视频在线,yy6080高清午夜场理论  

Sales volumes by type

午夜国产精品视频在线,yy6080高清午夜场理论 Sales volumes by category

午夜国产精品视频在线,yy6080高清午夜场理论 (kt)

1H 2020

1H 2019

午夜国产精品视频在线,yy6080高清午夜场理论 Chg

2Q 2020

2Q 2019

Chg

Phosphate rock

1,581.6

午夜国产精品视频在线,yy6080高清午夜场理论 1,657.1

-4.6%

午夜国产精品视频在线,yy6080高清午夜场理论 790.6

午夜国产精品视频在线,yy6080高清午夜场理论 831.4

-4.9%

午夜国产精品视频在线,yy6080高清午夜场理论 Nepheline concentrate

578.1

6066

午夜国产精品视频在线,yy6080高清午夜场理论 -4.7%

2934

午夜国产精品视频在线,yy6080高清午夜场理论 310.6

午夜国产精品视频在线,yy6080高清午夜场理论 -5.5%

午夜国产精品视频在线,yy6080高清午夜场理论 TOTAL

午夜国产精品视频在线,yy6080高清午夜场理论 2,159.7

2,263.7

-4.6%

1,084.0

1,142.0

午夜国产精品视频在线,yy6080高清午夜场理论 -5.1%

午夜国产精品视频在线,yy6080高清午夜场理论 Phosphate-based fertilizers

午夜国产精品视频在线,yy6080高清午夜场理论 DAP/MAP

午夜国产精品视频在线,yy6080高清午夜场理论 1,745.6

午夜国产精品视频在线,yy6080高清午夜场理论 1,602.5

午夜国产精品视频在线,yy6080高清午夜场理论 8.9%

820.7

午夜国产精品视频在线,yy6080高清午夜场理论 658.2

24.7%

午夜国产精品视频在线,yy6080高清午夜场理论 NPK

1,357.3

1,337.1

1.5%

午夜国产精品视频在线,yy6080高清午夜场理论 575.7

午夜国产精品视频在线,yy6080高清午夜场理论 681.2

-15.5%

NPS

419.7

286.5

午夜国产精品视频在线,yy6080高清午夜场理论 46.5%

220.3

117.0

午夜国产精品视频在线,yy6080高清午夜场理论 88.3%

午夜国产精品视频在线,yy6080高清午夜场理论 APP

午夜国产精品视频在线,yy6080高清午夜场理论 109.8

101.2

8.5%

46.7

39.4

18.5%

午夜国产精品视频在线,yy6080高清午夜场理论 MCP

午夜国产精品视频在线,yy6080高清午夜场理论 199.5

181.0

10.2%

102.1

午夜国产精品视频在线,yy6080高清午夜场理论 93.7

9.0%

午夜国产精品视频在线,yy6080高清午夜场理论 PKS

午夜国产精品视频在线,yy6080高清午夜场理论 44.8

49.5

-9.5%

午夜国产精品视频在线,yy6080高清午夜场理论 23.9

午夜国产精品视频在线,yy6080高清午夜场理论 39.3

-39.2%

TOTAL

3,876.7

3,557.8

9.0%

午夜国产精品视频在线,yy6080高清午夜场理论 1,789.4

午夜国产精品视频在线,yy6080高清午夜场理论 1,628.8

9.9%

午夜国产精品视频在线,yy6080高清午夜场理论 Nitrogen-based fertilizers

AN

午夜国产精品视频在线,yy6080高清午夜场理论 394.4

275.1

43.4%

午夜国产精品视频在线,yy6080高清午夜场理论 158.4

104.5

51.6%

午夜国产精品视频在线,yy6080高清午夜场理论 Urea

911.9

873.2

午夜国产精品视频在线,yy6080高清午夜场理论 4.4%

午夜国产精品视频在线,yy6080高清午夜场理论 445.1

午夜国产精品视频在线,yy6080高清午夜场理论 426.4

4.4%

午夜国产精品视频在线,yy6080高清午夜场理论 TOTAL

午夜国产精品视频在线,yy6080高清午夜场理论 1,306.3

1,148.3

13.8%

603.5

530.9

午夜国产精品视频在线,yy6080高清午夜场理论 13.7%

TOTAL fertilizers

5,183.0

4,706.1

午夜国产精品视频在线,yy6080高清午夜场理论 10.1%

2,392.9

午夜国产精品视频在线,yy6080高清午夜场理论 2,159.7

10.8%

午夜国产精品视频在线,yy6080高清午夜场理论 Other products

午夜国产精品视频在线,yy6080高清午夜场理论 STPP

44.5

51.2

午夜国产精品视频在线,yy6080高清午夜场理论 -13.1%

18.4

25.3

午夜国产精品视频在线,yy6080高清午夜场理论 -27.3%

Other

46.2

38.5

20.0%

20.7

午夜国产精品视频在线,yy6080高清午夜场理论 15.2

36.2%

TOTAL feedstocks

午夜国产精品视频在线,yy6080高清午夜场理论 90.7

89.7

午夜国产精品视频在线,yy6080高清午夜场理论 1.1%

午夜国产精品视频在线,yy6080高清午夜场理论 39.1

40.5

-3.5%

 

午夜国产精品视频在线,yy6080高清午夜场理论 In 1H 2020, PhosAgro’s fertilizer sales amounted to 5.2 million tonnes, an increase of 10.1% year-on-year. Fertilizers sales saw robust growth all over the world with the exception of North America and the CIS. The recovery in seasonal demand was bolstered by the high affordability of fertilizers for end users. Reductions in fertilizer production because of restrictions in China and India also supported global demand.

 

In 2Q 2020, PhosAgro’s fertilizer sales increased by 10.8% year-on-year to 2.4 million tonnes. The main reason for this double-digit growth was the reduction in fertilizer production in regions where self-isolation regulations were introduced. The recovery in seasonal demand in Latin America and Asia and positive expectations in terms of demand for agricultural products also helped boost sales.

 

Sales volumes by key markets

Sales volumes by region

Phosphate-based fertilizers

(kt)

1H 2020

1H 2019

Chg

午夜国产精品视频在线,yy6080高清午夜场理论 2Q 2020

2Q 2019

午夜国产精品视频在线,yy6080高清午夜场理论 Chg

Russia

1,156.3

1,033.6

午夜国产精品视频在线,yy6080高清午夜场理论 11.9%

530.2

621.1

-14.6%

午夜国产精品视频在线,yy6080高清午夜场理论 North America

155.7

387.3

午夜国产精品视频在线,yy6080高清午夜场理论 -59,8%

午夜国产精品视频在线,yy6080高清午夜场理论 35.6

午夜国产精品视频在线,yy6080高清午夜场理论 60.3

午夜国产精品视频在线,yy6080高清午夜场理论 -40.9%

Latin America

午夜国产精品视频在线,yy6080高清午夜场理论 508.9

午夜国产精品视频在线,yy6080高清午夜场理论 412.7

午夜国产精品视频在线,yy6080高清午夜场理论 23.3%

午夜国产精品视频在线,yy6080高清午夜场理论 338.9

166.1

104.1%

Europe

1,080.7

990.4

午夜国产精品视频在线,yy6080高清午夜场理论 9.1%

359.6

370.1

午夜国产精品视频在线,yy6080高清午夜场理论 -2.8%

午夜国产精品视频在线,yy6080高清午夜场理论 CIS

172.8

244.6

午夜国产精品视频在线,yy6080高清午夜场理论 -29.4%

午夜国产精品视频在线,yy6080高清午夜场理论 69.9

午夜国产精品视频在线,yy6080高清午夜场理论 121.4

-42.4%

午夜国产精品视频在线,yy6080高清午夜场理论 Other

802.3

午夜国产精品视频在线,yy6080高清午夜场理论 489.2

64.0%

455.2

午夜国产精品视频在线,yy6080高清午夜场理论 289.9

57.0%

Total

3,876.7

3,557.8

9.0%

1,789.4

1,628.8

午夜国产精品视频在线,yy6080高清午夜场理论 9.9%

午夜国产精品视频在线,yy6080高清午夜场理论 Nitrogen-based fertilizers

午夜国产精品视频在线,yy6080高清午夜场理论 Russia

387.8

午夜国产精品视频在线,yy6080高清午夜场理论 355.4

9.1%

97.3

午夜国产精品视频在线,yy6080高清午夜场理论 159.3

午夜国产精品视频在线,yy6080高清午夜场理论 -38.9%

North America

午夜国产精品视频在线,yy6080高清午夜场理论 117.3

163.3

午夜国产精品视频在线,yy6080高清午夜场理论 -28.2%

午夜国产精品视频在线,yy6080高清午夜场理论 50.2

78.3

-35.9%

午夜国产精品视频在线,yy6080高清午夜场理论 Latin America

午夜国产精品视频在线,yy6080高清午夜场理论 438.2

午夜国产精品视频在线,yy6080高清午夜场理论 220.6

午夜国产精品视频在线,yy6080高清午夜场理论 98.6%

午夜国产精品视频在线,yy6080高清午夜场理论 316.4

午夜国产精品视频在线,yy6080高清午夜场理论 109.0

午夜国产精品视频在线,yy6080高清午夜场理论 190.4%

午夜国产精品视频在线,yy6080高清午夜场理论 Europe

252.6

午夜国产精品视频在线,yy6080高清午夜场理论 327.5

午夜国产精品视频在线,yy6080高清午夜场理论 -22.9%

85.9

午夜国产精品视频在线,yy6080高清午夜场理论 122.5

-29.9%

CIS

午夜国产精品视频在线,yy6080高清午夜场理论 11.6

11.3

2.7%

午夜国产精品视频在线,yy6080高清午夜场理论 3.8

午夜国产精品视频在线,yy6080高清午夜场理论 3.3

午夜国产精品视频在线,yy6080高清午夜场理论 16.9%

午夜国产精品视频在线,yy6080高清午夜场理论 Other

午夜国产精品视频在线,yy6080高清午夜场理论 98.8

70.2

午夜国产精品视频在线,yy6080高清午夜场理论 40.7%

49.9

午夜国产精品视频在线,yy6080高清午夜场理论 58.6

-14.8%

Total

1,306.3

1,148.3

13.8%

603.5

530.9

13.7%

 

In 1H 2020, the Company increased fertilizer sales in its priority markets. The main driver of sales growth in 1Q 2020 was the growing demand in Russia and Europe. In 2Q 2020, seasonal demand from Latin America and Asia began to ramp up, and the Company redirected its DAP/MAP and ammonium nitrate volumes to these markets.

 

Market highlights

 

Phosphate-based fertilizers

 

Despite the end of seasonal demand in Europe, the United States and Russia, world prices remained stable with an upward trend towards the end of the quarter. The biggest increases in demand were seen in India and Latin America. With favourable weather conditions in India, an increase in DAP imports was observed as a result of a reduction in domestic production due to lockdown measures and due to restrictions on supplies from China (domestic seasonal demand). In Brazil, favourable conditions in the global soybean markets and the affordability of fertilizers (the cost of fertilizers compared with the price of basic agricultural products) supported demand.

午夜国产精品视频在线,yy6080高清午夜场理论  

Urea/nitrogen fertilizers:

午夜国产精品视频在线,yy6080高清午夜场理论  

The first half of the reporting period saw a decrease in market activity because of the off-season in the Company’s main sales markets, which had a negative impact on world prices. Subsequently, the resumption of tendering in India along with an increase in demand from the main sales markets of Latin America helped prices recover. The export supply from China remained limited, which also supported the market.