Resumen de Uralkali lifts demand forecast on improving potash outlook
Russian potash producer Uralkali has revised its 2017 global consumption forecast amid higher sales volume and improving demand outlook.
Increased sales volume lifted Russian potash producer Uralkali OAO's earning in H1, and the improving demand outlook prompted the company to revise its 2017 consumption forecast.
Driven by growth in sales, Uralkali's net revenue rose 23% year-on-year (y-o-y) to $1.095m in the first half of the year, but the company's net profit was halved partly due to the devaluation of the Russian rouble against the US dollar.
Meanwhile, improving global fertiliser demand has also supported higher potash production at Uralkali.
"The market environment began to recover gradually. As a consequence, the company has managed to increase the production and sales volume of the main product," said CEO Dmitry Osipov.
