AgroPages-Sales of ICL Specialty Fertilizers reached to 188 million USD in Q2 2016.-Agricultural news

ICL recently reported its financial results for the second quarter ended June 30, 2016.

The stability in sales of specialty Fertilizers was achieved despite the decrease in commodity prices, which reduced market prices for our end-products, and despite weaker demand in Asia-Pacific due to lower crop prices. Pricing declines were offset by higher volumes sold and expanding Chinese footprint.

Markets were negatively impacted by signs of maturity and increased plant protection regulation in Europe. This was partially offset by the recovery of housing markets in the US and Europe, which contributed to demand for ornamental horticulture, and by increased demand for enhanced efficiency fertilizers in the US.

New Organizational Structure

In the report, the Company is presenting its results for the first time according to the new organizational structure announced earlier in the year. This organizational structure was introduced to improve the alignment of the company’s structure with its ‘2020-Next Step Forward’ strategy, creating a clear organizational distinction between two divisions: Essential Minerals, which includes ICL Potash & Magnesium and ICL Phosphate business units and focuses on efficiency, process innovation and operational excellence; and Specialty Solutions, which includes ICL Industrial Products, ICL Specialty Fertilizers, ICL Advanced Additives and ICL Food Specialties business units and concentrates on achieving growth through a highly tailored customer focus, product innovation and commercial excellence.