Delivering for
Customers

Our phosphate and ammonia businesses continue to achieve success due to both the high-quality of our products and our unwavering focus on understanding and responding to the needs of current and future customers.

We continue to develop new product lines for existing markets, and to seek our new opportunities to support customers in developing markets.

Our phosphate and ammonia business growth was supported by expansion into new territories and markets. We achieved this by building on our existing networks and global presence, supported by the increasing recognition of Ma'aden as a reliable supplier of highquality products. Phosphate sales volume increased to 5.3 million ton while ammonia sales reached 1.3 million ton in 2020. Our Phosphate market share has increased rapidly over the years, across the markets – 16% in India, 12% in Brazil, 47% in Bangladesh and 54% in East Africa. On the ammonia side, we maintained our strategic position, with year-over-year sales growth of 6%. In addition, we strengthened our position in the Far East ammonia markets, by further penetrating and increasing market share.

This year, we have also increased our focus on the supply of speciality phosphate products (NPKs/NPSs), which accounted for 5% of our fertlizer sales in 2020. We intend to further strengthen our specialty products portfolio and believe that this segment will account for a significant portion of our sales as we move forward.

Meridian Acquisition:

Ma’aden completed its first international acquisition of Meridian, a leading fertilizer distribution company, in 2019. Meridian caters to more than 60,000 small holder farmers apart from large farmers through more than 200 self-owned and distributor retail stores. Meridian is the largest fertilizer supplier in most of the countries where it operates. Meridian has ensured an efficient route to key growth markets in East and South Africa and has now become the cornerstone of Ma’aden's growth in Africa. Through this acquisition, we have performed particularly strongly in African markets, where we have witnessed phosphate sales volume increasing by 40% since 2019.