Harvest Minerals Ltd (AIM:HMI, OTC:HMIFF) has confirmed that it is progressing as planned to achieve its year-end target of 200,000 tonnes of direct application fertiliser, KP Fértil, which represents a 33% increase compared to 2022’s sales volume.
The company reported that it had received sales orders for 16,755 tonnes of KP Fértil during the first quarter of 2023. Harvest’s Arapua fertiliser project in Brazil exclusively produces KP Fértil.
Harvest’s Chairman, Brian McMaster, stated that the beginning of 2023 has met its internal planning projections but had a slower start than the previous year, which experienced increased buying decisions due to concerns about the situation in Ukraine.
He added that the company’s competitive position has remained strong as it has a unique, highly effective, 100% organic fertiliser and its customer base and order book are both growing. Therefore, he expects the company to meet its sales target of KP Fértil 200,000 tonnes by the end of 2023.
During the first quarter, prices of traditional fertiliser products declined, but Harvest has yet to be impacted by the trend.
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