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PhosAgro Q1 2012 MAP/DAP Production Plans

30 December 2011
Moscow – PhosAgro (MICEX-RTS, LSE: PHOR) (“the Company”), a leading global vertically integrated phosphate-based fertilizer producer, announces that it plans to decrease production of DAP and MAP fertilizers by 18% in Q1 2012 compared to Q1 2011.

PhosAgro CEO Maxim Volkov said: “We believe that recent declines in MAP and DAP spot prices are speculative and do not reflect the real economic fundamentals: we expect that farmer economics and agriculture fundamentals will support higher prices  and higher demand for these fertilizers ahead of the spring planting season. In the current situation, PhosAgro benefits from both its high degree of vertical integration and its flexible production model, which enables the Company to switch to NPK production.”