Equity Analysis /
Russia

PhosAgro: Supply disruptions and high input costs maintain strong momentum

  • 2021 continues to favour fertilizer producers

  • In 2H21, fertilizer prices continued moving north driven by a combination of factors

  • PhosAgro's economics look attractive supported by the high level of vertical integration

Boris Krasnozhenov
Boris Krasnozhenov

Head of Research (Managing Director)

Yulia Tolstykh
Yulia Tolstykh

Analyst, Metals & Mining

Alfa
25 October 2021
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