Harvest Minerals Limited has reported a near 700% rise in sales volumes of its fertiliser KP Fértil in the first three months of 2022.
Sold in Brazill currently, accumulated sales orders in the three months totalled 70,200 tonnes, or 82% of 2021's sales and 47% of the target for the whole of this year.
Harvest added that as approximately 80% of sales in Brazil are seasonally placed in the second half, this year's production target has been raised to 200,000 tonnes.
Fertiliser prices have been rocketing globally due to the war in Ukraine, which is a big grain exporter, and the soaring cost of gas in Europe affecting production, though Harvest made no reference to the value of the increased sales (read more).
Brian McMaster, Harvest’s chairman added: "2022 has started with a bang and demand for KP Fértil has increased substantially.
“Additionally, we have seen improved macro conditions and increasing awareness of the importance of domestically produced fertilisers all of which have been positives in the development of our sales channels.
“The current and foreseeable market conditions remain favourable, and we are constantly reviewing our position in the market to ensure that we build a substantiable customer base for years to come.
“These are exciting times and never before has the saying that we are "in the right place, with the right commodity at the right time" been more accurate. “