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PJSC Acron delivers record output in H1

Fri, 17th Jul 2020

Mineral fertiliser producer PJSC Acron said commerical product output rose by a record 3% in the first half of the year. In the first half of the year, the group produced 3,921,000 tonnes of commercial products up 3% year-on-year. Mineral fertiliser output was up 1% to 3,231,000 tonnes. Ammonia output increased 1% to 1,374,000 tonnes, and ammonia processed into finished products went up 10% to a record 1,306,000 tonnes. 'We plan to further increase our ammonia output by the end of 2020 by upgrading the Ammonia-4 unit, which will expand its capacity to 900,000 tonnes per annum, the company said. After falling in the second quarter during low-demand season, global urea prices found support in early June 2020, with industry experts expecting a smooth recovery in the coming months due to strong demand in India and Brazil. The market environment would further improve when demand heats up in the fourth quarter of 2020 in the Northern Hemisphere, the company said. Story provided by StockMarketWire.com

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