PhosAgro Increases Exports to Africa by 74% in 1H 2024

PhosAgro Group, one of the world’s largest producers of phosphate-based fertilizers, increased its fertilizer shipments to African countries by 74% in the first six months of 2024.

At a press briefing for prominent African media, PhosAgro’s Deputy CEO for Sales and Marketing, Mikhail Sterkin, highlighted the strong demand for the Company’s products in 100 countries around the world, including 21 in Africa. Over the past decade, PhosAgro’s exports have nearly doubled to 8.6 million tonnes.

“We are the largest Russian supplier of fertilizers to African countries, accounting for 33% of total exports of all mineral fertilisers. We are committed to strengthening food security on the continent. Over the past five years alone, we have increased shipments to Africa nearly fivefold, from 118,000 tonnes in 2018 to 557,000 tonnes in 2023. We have continued increasing supplies to Africa this year, with deliveries to African countries in the first half of 2024 rising 74% year-on-year to 300,000 tonnes,” Mr Sterkin told reporters.

PhosAgro’s Deputy CEO stressed that Africa is a key focus for the Company’s international growth strategy: in the next five years, PhosAgro expects to double its deliveries to the continent.

“The launch of our new plant here in Volkhov enhances our capacity to export our products to Africa. The plant, with a production capacity of one million tonnes, is located near Baltic ports, which are focused on exporting products to friendly countries,” Mr Sterkin added.

With its extensive product line, PhosAgro is well positioned to address the specific needs of African regions, offering customers the best solutions while also making a significant contribution to the continent’s food security.