Harvest Minerals Ltd sales jump 700% as global fertilizer crisis sets in

“Never before has the saying that we are ‘in the right place, with the right product at the right time’ been so accurate.”

Harvest Minerals Limited reported an almost 700% increase in sales volumes of its KP Fértil fertilizer in the first three months of 2022.

Sold in Brazil currently, cumulative orders over the three months amount to 70,200 tons, or 82% of sales in 2021 and 47% of the target for this year as a whole.

Harvest added that with around 80% of sales in Brazil being seasonal in the second half of the year, this year’s production target has been raised to 200,000 tonnes.

Fertilizer prices have skyrocketed globally due to war in Ukraine, which is a major grain exporter, and soaring gas prices in Europe affecting production, although Harvest made no reference to the value of increased sales (learn more).

Brian McMaster, President of Harvest, added: “2022 has started with a bang and demand for KP Fértil has increased significantly.

“Additionally, we have seen improved macroeconomic conditions and growing awareness of the importance of locally produced fertilizers, all of which have been positive in developing our sales channels.

“Current and foreseeable market conditions remain favorable, and we are constantly reviewing our position in the market to ensure that we are building a substantial customer base for years to come.

“These are exciting times and never before has the adage that we are ‘in the right place, with the right product at the right time’ been so accurate.”