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FINANCIAL NEWS
GCC fertilizer production to grow steadily
26 Sep 2013
(MENAFN) Experts at the fourth annual GPCA fertilizers convention said that Gulf Cooperation Council (GCC) countries’ fertilizer production will keep growing at a stable pace, Times of Oman reported.
The growing global population and planned capacity expansions are the main reasons behind the expected sustained growth, experts said.
The Director General of the International Fertilizer Industry Association (IFA) said: “As global population is expected to reach 9.3 billion by 2050, food production will have to increase by 50 per cent in the same period.”
The Gulf Petrochemicals and Chemicals Association (GPCA) said that fertilizer production in the GCC hit 31.4 million tons last year, where the IFA estimated that global production was at 255.7 million tons the year before it.
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