Belarus’ chemical company OAO Grodno Azot says its nitrogen fertilizer exports dropped by 25.6% YoY in January-June to 107,600 tons (in terms of 100% nitrogen), a source in the profile ministry reported.
In money terms exports shrank by 42.4% YoY to $52.349 million. The expert attributes shrinking proceeds to the decline in fertilizer prices.
Grodno Azot produced 418,158 tons of nitrogen fertilizers in H1 2016.
Grodno Azot was founded in 1963 and transformed into an open joint-stock company in 2002. The Belarusian government holds a 99.97% stake.
Grodno Azot is Belarus’ main producer of liquid ammonia, nitrogen fertilizers, methanol, caprolactam, biodiesel fuel. (Prime-TASS/Business World Magazine)