Business news

MINSK, 13 January (BelTA) – Belarusian Potash Company (BPC) exported 9.2 million tonnes of fertilizers in 2015, up 0.2% from 2014 in money terms, BelTA learned from the BPC press service.

“In light of the current market trends, in September 2015 Belarusian Potash Company adjusted its plans and predicted that the export of Belarusian potassium in 2015 would reach some nine million tonnes. As we summed up the results of the year, in 2015 the company exported some 9.2 million tonnes of potash fertilizers, which is 300,000 tonnes less than in the record-breaking 2014. BPC and Belaruskali made maximum effort to improve sales efficiency, and in 2015 the export of Belarusian potash fertilizers in money terms went up by 0.2% as against 2014,” the press service noted.

BPC representatives pointed out that the first half of 2015 was a relatively stable period on the market of potassium, which was a good sign for Belarus. The country’s exports of potash fertilizers were on par with the same period of 2014. However, the situation changed in H2 2015. The macroeconomic situation became much more difficult. The downgraded Brazil’s credit rating, the devaluation of national currencies in many countries importing Belarusian products (Brazil, China, India, and countries of South-East Asia), and the decline in prices for agricultural produce had a negative impact on farmers’ revenues and, consequently, led to a fall in demand in Q4 2015.

Belaruskali has reduced its output to the amount needed to satisfy the current demand. “Belarusian Potash Company and Belaruskali coordinate their activities and act in accordance with the situation on the market. The companies take a thoughtful and responsible approach to the matters of production and export,” the press service emphasized.

BPC added that now it is difficult to predict how the market will develop in 2016. The market of potassium operates within the global macroeconomic system. The demand for potash fertilizers, the exports of this product directly depend on the general economic situation in the importing countries.

Today most of the commodity markets are undergoing major changes, the prices are falling. The market of potassium is not an exception. “The Chinese economic slowdown, the unprecedented decline in prices for oil and other resources – all this does not make the situation better. However, BPC as always will take a balanced and thoughtful approach to its exports keeping to the principles of free and competitive market in order to develop its business and ensure the wellbeing of its partners,” the press service added.