ASX fertiliser companies are all systems go, and it bodes well for 2023
Many ASX fertiliser companies have entered a critical period in recent months – namely securing major orders and undertaking delivery those orders. ASX fertiliser companies timed their run well with elevated prices for commodities, such as phosphate, and the good times look set to continue in 2023.
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Fertoz gets its initial order
Fertoz (ASX:FTZ) has trailed many other ASX fertiliser companies from a share price perspective. But it rose today after receiving orders for 18,000 tonnes of phosphate. The deliveries will take place in the first quarter of 2023 and are expected to bring in more than $9m in revenue.
Fertoz also told shareholders it expected 2023 orders would grow by 230% on 2022 production volumes and it would deliver 40,000 tonnes. But this will just be the tip of the iceberg for the company. By 2026, it hopes to produce over 300,000 tonnes per year.
Fertoz share rose by more than 20% this morning.
Fertoz (ASX:FTZ) share price chart (Graph: TradingView)
Other ASX fertiliser companies delivering the goods
Plenty of other ASX fertiliser companies are set for a solid 2023 as well – both companies at the production stage and companies still in the exploration phase.
Last month, Queensland-based Centrex (ASX:CXM) made its first international export and told shareholders it would expand production to be capable of 625,000 tonnes per annum of output.
Among ASX fertiliser companies still at the exploration stage, PhosCo (ASX:PHO) unveiled a Mineral Resource Estimate at its Chaketma project with 83.7Mt at 20.2% phosphate. This result indicated a 90% conversion of its previously Inferred result to Indicated.
So, ASX fertiliser companies may prove to be fertile investments in 2023.
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