Acron Group’s Consolidated Output (Operating Results for Acron, Dorogobuzh and Hongri Acron)
| Product, ‘000 t | H1 2011 | H1 2010 | YOY |
| Ammonia | 900.2 | 885.7 | 2% |
| Incl. own use | 792.4 | 743.7 | |
| Nitrogen fertilisers | 1,239.9 | 1,134.0 | 9% |
| Incl. own use | 174.5 | 140.1 | |
| Ammonium nitrate | 753.4 | 686.7 | 10% |
| Incl. own use | 43.6 | 26.1 | |
| Urea | 228.4 | 224.0 | 2% |
| Incl. own use | 130.9 | 114.0 | |
| Urea-ammonium nitrate (UAN) | 258.1 | 223.3 | 16% |
| Complex fertilisers | 1,292.0 | 1,203.4 | 7% |
| Incl. own use | 15.2 | 9.9 | |
| NPK | 1,140.4 | 1,126.0 | 1% |
| Incl. own use | 15.2 | 9.9 | |
| Bulk blends | 151.6 | 77.4 | 96% |
| Organic compounds | 188.3 | 176.7 | 7% |
| Incl. own use | 98.2 | 87.7 | |
| Methanol | 37.4 | 41.7 | -10% |
| Incl. own use | 34.9 | 32.2 | |
| Formalin | 68.5 | 61.4 | 12% |
| Incl. own use | 62.9 | 55.1 | |
| Urea-formaldehyde resins (UFR) | 82.4 | 73.6 | 12% |
| Non-organic compounds | 382.3 | 341.0 | 12% |
| Low-density and technical-grade ammonium nitrate | 114.2 | 94.1 | 21% |
| Calcium carbonate | 165.9 | 143.0 | 16% |
| Liquid carbon dioxide | 27.0 | 22.3 | 21% |
| Argon | 3.5 | 3.1 | 13% |
| Hydrochloric acid | 71.7 | 78.5 | -9% |
| TOTAL COMMERCIAL OUTPUT (output less own consumption) | 2,922.4 | 2,759.4 | 6% |
Comments:
In H1 2011, the Group’s total commercial output was up 6% year-on-year to 2.922 million tonnes. This increase was due to higher utilisation of commercial product capacity and stable operation of production facilities.
Nitrogen Fertilisers and Ammonia
With the aim of fully meeting higher seasonal demand for nitrogen fertilisers, Acron and Dorogobuzh production facilities increased their ammonium nitrate output 15% and 7%, respectively. Liquid UAN output increased 16%. The main regions for nitrogen products sales in the reporting period were Russia, the CIS, Latin America and North America.
Complex Fertilisers
In H1 2011, dry blended fertilisers accounted for significant output growth in the complex fertiliser sector; both Dorogobuzh and Hongri Acron production facilities boosted bulk blends production. Bulk blends are expected to reach their pre-2008 level this year. Due to continuing strong demand from Asian countries, NPK operations at the Group’s three facilities are working at full capacity.
Organic and Non-organic Compounds
n the reporting year, the Group’s facilities continued to ramp up production of industrial products. Dorogobuzh resumed production of low-density and technical-grade ammonium nitrate and calcium carbonate, and the overall performance of the Group’s Russia-based production facilities in terms of these products increased 21% and 16%, respectively. Liquid carbon dioxide and UFR output also increased 21% and 12%, respectively.
Global Prices
The global economic recovery and continuing increase in demand for agricultural products are driving the price upswing in the global mineral fertiliser market.
Indicative Global Prices for Mineral Fertilisers (USD per tonne)
| H1 2011 | H1 2010 | YOY | ||
|---|---|---|---|---|
| Ammonia | FOB Yuzhny | 486 | 337 | 44% |
| Urea | FOB Baltics | 376 | 249 | 51% |
| Ammonium nitrate | FOB Baltics | 309 | 216 | 43% |
| UAN | FOB Black Sea | 289 | 178 | 62% |
| NPK | FOB FSU | 417 | 313 | 33% |
Source: Fertecon, FMB