"PhosAgro increased its exports of agrochemical products to India in 2022 more than fivefold, reaching 2.7 million tonnes. Supplies to other Asian countries more than doubled, to 0.4 million tonnes. PhosAgro is Russia’s largest exporter of fertilizers to Africa, with shipments to the continent increasing by a quarter to 0.5 million tonnes," the statement read.
PhosAgro's product sales have increased by 6.4% and amounted to 11 million tonnes year-on-year, marking the highest figure in the history of the company, according to the report.
The company said it had been able to refocus its exports to developing countries and adapt to new global market conditions.
"PhosAgro persevered, showing unprecedented flexibility and adaptability: even in this environment, we were able to increase our supplies – primarily to emerging markets," Viktor Cherepov, Chairman of PhosAgro’s Board of Directors, said.
Cherepov added that PhosAgro was doing everything to make its fertilizers accessible to the "priority market of Russia" and other global markets.