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News

Belarus’ export of oil products to CIS 1.8 times in Q1

MINSK (BelTA) – In Q1 2012 Belarus’ export of oil products to the CIS member states went up 1.8 times from January-March 2011to 961,800 tonnes. The average price of oil products rose by 10.5% to $935 per tonne, BelTA learnt from the National Statistics Committee.

In connection with the establishment of the Single Economic Space, for the first time supplies of Belarusian oil products were meant for Russian consumers.

In January-March this year exports to the countries outside the CIS rose 1.7 times as compared to the same period last year and amounted to 3,817.8 thousand tonnes (average price was $820 per tonne, 14.1% higher than the price in Q1 2011).

In Q1 2012, Belarus’ exports of oil products surged by 68.9% in comparison with the same period 2011 to 4,779.6 thousand tonnes. The average price of Belarusian oil products made up $843 per tonne, up 13.5% compared with January-March 2011.

In Q1 2012 export of crude oil, including gas condensate, edged up by 4.4% to a total of 408,400 tonnes. The average price was at $829 per tonne, up 10% from January-March 2011. Oil was delivered to countries outside the CIS.

In Q1 this year the export of potash fertilizers decreased by 43.7% to 688,000 tonnes as against the same period last year. The average price was $756 per tonne, up 20.1% as against Q1 2011. Shipments to the CIS countries amounted to 22,400 tonnes, down 39.8% (the average price per tonne was $715, the growth of 16.3%), while exports to non-CIS countries were down 43.9% to 665,600 tonnes (the average price was $757 per tonne, the growth of 20.2%).

The experts see the reasons for such numbers in current market environment. Due to a slight decrease in demand for potassium fertilizers, manufacturers cut export to maintain the prices. According to experts, potassium chloride consumption in Belarus and Asian countries is going to remain at the level of 2011 but potassium manufacturers’ export may fall away due to the warehouse stocks in these countries.

Export of nitrogen fertilizers was down by 5.4% to 17,970 tonnes. Export of these goods to the CIS countries rose 2.4 times (to 308 tonnes) as against the same period of 2011, exports to non-CIS countries went down 6.4% (17,660 tonnes). Meanwhile, the average price for nitrogen fertilizers decreased by 16.3% as against the same period of 2011 to $750 per tonne.