Ukraine record-breaking increase in fertilizer production in 2023

In 2023, Ukraine has been making its achievements in fertilizer production, having achieved an 81% increase in volumes compared to the previous year. According to the fertilizer market monitoring by InfoIndustry Information Agency, the production volume amounted to 2050 thousand tons in 2023 compared to 1130 thousand tons in 2022.

Although this level of production remains lower than in the pre-war year of 2021, when 5.2 million tons of nitrogen fertilizers were produced, it is still a significant increase. According to Dmytro Gordeychuk, fertilizer market expert at InfoIndustry, the production growth was facilitated by stable energy supply, low gas prices and even fertilizer consumption.

Although the consumption of fertilizers decreased at the end of 2023, the total volume of purchases increased. The volume of fertilizer imports was active in the first quarter, but declined in the second quarter. Despite this, the volume of imports of nitrogen mineral fertilizers has already exceeded 1.08 million tons as of December 18, 2023, which indicates that the market is ready for further growth, the report says.

Dmytro Gordeychuk noted that as of December 1, nitrogen fertilizer stocks of producers remained low, confirming the high demand for the products.