PhosAgro intends to increase fertilizer supplies to Argentina in connection with the abolition of import duties on DAP.
Moscow. On August 30, 2017, PhosAgro PJSC (Moscow Exchange, LSE: PHOR), a Russian vertically integrated company, one of the world's largest producers of phosphorus fertilizers, will consider increasing the supply of fertilizers to Argentina in connection with the decision of the President of Argentina, Mauricio Macri, to cancel 6 % import duty on high-quality diammonium fofsfat (DAP) of Russian production.
“Our joint efforts with federal authorities, including the ministries of foreign affairs and economic development of the Russian Federation, the intergovernmental Russian-Argentine Commission on trade, economic, scientific and technical cooperation, the Russian Union of Industrialists and Entrepreneurs and the Chamber of Commerce and Industry to defend the interests of domestic business in the international arena restrictive measures on high-quality products of Russian producers of mineral fertilizers were successful. We are grateful to the Argentinean authorities for the constructive dialogue and their willingness to strengthen mutually beneficial cooperation between Russian and Argentinean companies.
Undoubtedly, not only Russian producers of mineral fertilizers will benefit from this decision, but also Argentine farmers and consumers of their products, since they will be able to cover the needs for import of 300-350 thousand tons of diammonium phosphate with products of high quality and environmental friendliness, ”said the President of the Russian Association fertilizer producers, CEO of PhosAgro PJSC Andrei Guryev, who heads the Russia-Argentina Entrepreneurship Council and the Russian-Argentine business dialogue from the Russian side .
According to Andrei Guryev, “agro-industrial products and mineral fertilizers, necessary to increase the efficiency of their production, are one of the most important and largest articles of trade between Russia and Argentina. For the Russian mineral fertilizer industry, Argentina, and all of Latin America, following the Russian market, is one of the priority sales regions. In 2016, the volume of Russian fertilizer exports to Argentina compared to 2015 increased 1,6 times - up to 521 thousand tons, and amounted to 43% of Russia's total exports to Argentina.
An absurd situation when high-quality Russian-made diammonium phosphate, which does not contain harmful substances, was taxed with import duties since 2011, and when fertilizers containing these impurities were imported duty-free were safely resolved, ”he emphasized.
A source: https://www.phosagro.ru