Demand for fertilizers in Ukraine

| Foreign Markets |

The Ukrainian Ministry of Agricultural Policy and Food is expecting the farmers in the country to use c. 1.07 million tonnes of artificial fertilizers in the spring sowing season. The demand for nitrogen-based fertilizers is forecast to grow by 13% as compared to 2013 and reach 754,000 t. Also, 178,000 t. of phosphorous-based and 134,000 t. of potassium-based fertilizers are to be used.

Keeping the prices at bay

In November 2013, there were 817,000 tonnes of fertilizers in stock. At the end of December, the average price of nitrogen-based fertilizers neared 3,000 UAH/t, but was 15% higher at retailer outlets. The farmers’ associations made an appeal to the government to intervene, so as to stop the prices from rising.

Problems with stock?

The beginning of work on the farms is near, but difficulties with purchasing fertilizers have started already. The Ministry is recommending a review of natural gas prices for the chemical companies, which could help decrease fertilizer prices.

Support for producers and farmers

In order to stabilize fertilizer pricing, The Ministry of Agricultural Policy and Food has suggested that prices be frozen each quarter, with some adjustments possible. The government has also proposed providing electricity and basic resources to chemical companies on preferential terms. Such measures could foster the competitive edge of the Ukrainian fertilizer market.

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Number one in the Polish chemical market

| Polish Market |

Last year will go down in history of our company, thanks to record results we have achieved. Consolidated net profit amounted to PLN 600 mln, while the unit gain amounted to PLN 596 million. We have succeeded despite of the production costs increase. This is the tenth consecutive year in which our plants end up in the black.

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