BAKU, Azerbaijan, Feb.25
By Leman Zeynalova – Trend:
The revenues of the carbamide plant rose by six times year-on-year as a result of the growth in production, the demand for carbamide in global markets, as well as a sharp increase in prices, the plant's director Khayal Jafarov said, Trend reports with reference to Azerbaijan’s state oil company SOCAR.
“Our revenues rose from 35 million manats in 2020 to 225 million manats. The price for carbamide in world markets rose from $220-230 per ton in 2020 to $750-850 per ton in 2021. In the domestic market the price for carbamide for farmers is 430 manats per ton, or $250. That’s to say, the price hike in global markets hasn’t affected the domestic prices,” he said.
Jafarov noted that SOCAR Carbamide sold around 40,000 tons carbamide in the domestic market in 2020 and raised it to 48,000 tons in 2021.
“We believe that the carbamide sales in the domestic market will soar after the liberated lands are cleaned from mines,” he added.
SOCAR Carbamide, a resident of Sumgait Chemical Industrial Park, has a crucial role to play in the development of agriculture and non-oil exports.
The plant commissioned in January 2019, plays an important role in reducing the dependence on nitrogen fertilizer imports and meeting the demand of local farmers.
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