PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that the United States of America has removed its anti-dumping import duty on the Company’s urea fertilizer.
PhosAgro CEO Andrey Guryev said: “The US Department of Commerce made this decision following a major effort to prove that PhosAgro sells its high-quality fertilizers in full compliance with anti-dumping regulations.”
In 2017 PhosAgro plans to launch a new, high-tech granulated urea line with a capacity of 500 kt per year. Production output from this line that is not consumed by PhosAgro’s domestic Russian market will be sold to export markets, including possibly the US.
Last year, the United States was one of the world’s largest urea importers, buying over 8 million tonnes. Only India imported more during the same period, at 9.4 million tonnes. Granulated urea is among the most popular and suitable nitrogen fertilizers in the United States.