Russian fertilizer giant sees 41% rise in exports to Africa

Russian fertilizer producer PhosAgro has reported a 41% increase in exports to Africa in the first nine months of this year, compared to the same period in 2023.

PhosAgro CEO Mikhail Rybnikov shared the news with TASS on Monday, saying that the rise in exports to African nations is the strongest among all regions. “

Export growth was 4% in the first nine months of the year, and we saw the same growth rate on the domestic market including third-party products, or 13% for our own production,” Rybnikov said. He also noted that exports to Latin America had increased by 20% over the same period.

Rybnikov, whose company is a leading global producer of phosphate-based fertilizers, emphasized the importance of supporting fertilizer logistics, particularly by rail, adding: “I believe our cargo is critical to ensuring national food security.”

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Additionally, Russian fertilizer company Uralchem has sent more than 134,000 tons of fertilizers to African countries free of charge since late 2022.

In partnership with the World Food Programme (WFP), over 111,000 tons of fertilizers have been shipped from European ports to Malawi, Nigeria, Kenya, and Zimbabwe.

According to data from the Russian Federal Customs Service (FCS), African nations now import more from Russia than North and South America combined. In 2023, Africa’s share of Russian exports doubled, rising from 2.5% to nearly 5%, while the total value of exports to Africa grew by 43%, reaching $21.2 billion.

Meanwhile, Russian exports to the Americas fell by 40% during the same period. Their share of Russian exports dropped from 3.5% in 2022 to 2.9% in 2023, according to the Center for Macroeconomic Analysis and Short-Term Forecasting (CAMAC).