Phosagro increased production to a record 11.3 million tons in 2023
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Chemical holding Phosagro (MOEX:PHOR) in 2023 increased the production of agrochemical products by 2%, to a record 11.3 million tons. The volume of mineral fertilizers amounted to 11 million tons.
“The main increase was due to an increase in production of DAP/MAP by 8.4% – to more than 4.5 million tons, ammonium nitrate by 4.4% – to 723 thousand tons and urea by 1.6% – to 1.7 million tons,” says the message on website companies.
Production of main raw materials at the end of 2023 increased by 2.1% due to an increase in the production of phosphoric and sulfuric acids by 4.6% and 2.5%.
The company added that Phosagro employees’ salaries were indexed by 15% in addition to a 60% increase from 2021 to 2023. This became possible as a result of “increasing production indicators and productivity growth.”
Read more about the fertilizer market in the Kommersant publication. “Fertilizers grow exports”.
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