Uralkaliy’s potassium chloride output drops 45.3%

Uralkaliy’s output of marketable potassium chloride decreased by 45.3% last year compared to the year 2008 and came down to 2.62 million tons.

The company reports the drop in output has to do with the plummeting global demand for potassium-based fertilizers, which, in its turn, was brought about by the world economic recession.

‘After our customers started buying less potassium chloride on some market, the company was forced to remain partially idle throughout the entire year 2009,’ Uralkaliy reports.

The company’s net profit dropped by three times in the first half of 2009 compared with the first half of 2008 and only reached 4.5 billion RUR (with figures calculated in accordance with the IAS), Uralkaliy says. The potash manufacturer’s revenues amounted to 13.87 billion RUR, which comes to less than 50% of what the company was able to make in January-June 2008.

Other materials on the topic::