PhosAgro phosphate-based fertilizer production Up 3.6% for 9M 2011

PhosAgro (MICEX, RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces its production update for the nine month period ended 30 September 2011.  The Company increased output of phosphate-based fertilizers by 3.6% year-on-year (y-o-y), while production of nitrogen-based fertilizers increased 4.4% y-o-y during 9M 2011.

Production volumes for 9M 2011 are summarized in the tables below.

Commenting on the 9M 2011 production results, PhosAgro CEO and Director Maxim Volkov said: “Higher output of phosphate-based and nitrogen-based fertilizers during 9M 2011 was due to strong demand, which in turn was driven by high soft commodity prices combined with historically low fertilizer stockpiles.  Farmers continue to invest in increasing crop output, including through increased applications of crop nutrients.

“Our 9M 2011 performance demonstrates that fertilizers continue to benefit from strong fundamental drivers, and are less susceptible to the volatility seen in global financial markets.  We remain optimistic that phosphate fertilizer demand will remain strong in the medium term.”

The table below provides a product-by-product breakdown of 9M 2011 volumes:

Commenting on the 9M 2011 production results, PhosAgro CEO and Director Maxim Volkov said: “Higher output of phosphate-based and nitrogen-based fertilizers during 9M 2011 was due to strong demand, which in turn was driven by high soft commodity prices combined with historically low fertilizer stockpiles.  Farmers continue to invest in increasing crop output, including through increased applications of crop nutrients.

“Our 9M 2011 performance demonstrates that fertilizers continue to benefit from strong fundamental drivers, and are less susceptible to the volatility seen in global financial markets.  We remain optimistic that phosphate fertilizer demand will remain strong in the medium term.”

The table below provides a product-by-product breakdown of 9M 2011 volumes:

For further information on PhosAgro please visit: www.PhosAgro.com