Moscow, 15 March 2012 – PhosAgro ("PhosAgro" or "the Company") (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that due to significantly higher demand for NPK fertilizers with a high concentration of P and K in Q1 2012, production of DAP and MAP fertilizers will be lower by more than 22% year-on-year.
As demand for NPK fertilizers remains strong, the Company expects overall fertilizer production in H1 2012 to increase compared to H1 2011, while production of DAP and MAP fertilizers will be approximately 15% lower in Q2 2012 compared with Q2 2011.
PhosAgro CEO Maxim Volkov said: "We have seen a significant increase in demand for our NPK fertilizers, and thanks to our flexible production and sales strategy we have been able to increase overall fertilizer production compared to 2011."