The Russian chemical holding "FosAgro" plans to increase the supply of fertilizers in Latin America at least 1.5 million tonnes by the end of 2017. This was said on Wednesday to the correspondent of TASS Director "FosAgro Americas" Alexander Kolosov.

"This year our sales volumes in Latin America, we expect, will be 1.5 million tons, perhaps 1.6 million tons," he said after closing a two-day meeting of the business Council Russia-Argentina and Argentina-Russia in Buenos Aires. "That is an increase compared to last year, when it was 1.3 million tons," - said Kolosov.

According to him, the main sales growth the company expects in Brazil, which is PhosAgro's largest market in Latin America. The Republic accounts for about 53-55% of all supply in the region fertilizers.

The holding company also expects to increase exports to Argentina due to the abolition in August of this year, six percent duty on import to the Republic of high-quality diammonium phosphate, and economic policy pursued by the government of President Mauricio Macri. "[The effect of the abolition of fees] we calculate, but it is somewhat subjective. What we can say is that we as a company [for the year] is almost 30% increased our sales in Argentina. The strengthening of the Argentine market with the new economic policy pursued by the President, Macri, led to the growth of import in two times," - said at a press conference General Director of "FosAgro" Andrey Guriev.

According to Kolosova, last year "FosAgro" has set in Argentina about 150 thousand tons. In total, Russian companies account for 26% of imported fertilizers. This share is divided roughly in half between PhosAgro and EuroChem. Leaders in the supply of fertilizers to Argentina are American companies.