The year 2009 began on a cushion of excellent profits that QAFCO garnered in the year 2008. The impetus was already there and the focus was to maintain it. This was going to be the biggest challenge before QAFCO in 2009.

In the year under review, QAFCO achieved a net profit of 1.68 Billion Qatari riyals. This is the fifth highest profit figure in QAFCO history. Reading in context of the global economic recession, QAFCO has been able to achieve commendable results in spite of the overall global set back.

Globally, according to IFA estimates, fertiliser markets have been inert, though nitrogen based fertilisers did moderately well in the year 2009. Markets for Ammonia remained stagnant due to the decrease in industrial demand while Urea saw a rise in its production and sales as well. QAFCO, however, sold more ammonia than expected in the year 2009. Urea exports were also considerably good. more...