Mass Media Overview
Russia’s PhosAgro to set up trading company in Latin America
29.08.2014 15:39
http://www1.valor.com.br/international
Jul 14 2014
Russia’s PhosAgro, the second largest global producer of fertilizers derived from phosphate, plans to establish its own trading company in Latin America to directly sell its products in the region, said CEO Andrey Guryev in an interview with Valor. The executive still awaits the definition of some details to officially announce the project, but the new company is likely to be based in Brazil, one of the largest markets for PhosAgro. "We’ve started to produce new categories of fertilizers in response to consumer demand in the country," Mr. Guryev said. In 2013, PhosAgro exported 800,000 tonnes to Brazil, which generated revenues of at least $400 million, or 13% of its global sales. The country accounted for more than half of shipments to Latin America, which reached 1.5 million tonnes and 25% of global sales.