FAS announced the extension of fixing domestic prices for mineral fertilizers
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Russia does not yet plan indexation of domestic prices for mineral fertilizers, price fixing remains at the level of 2022, the Federal Antimonopoly Service reported.
“Currently, indexation is not provided,” the FAS said in a statement. They noted that this became possible after the adoption by the government of the Russian Federation of a resolution on the extension of quotas for the export of fertilizers.
On May 27, the government decided to extend the quotas – from June 1 to November 30, 2023. The total export quota is set at 16.3 million tons. This should support sufficient volumes of fertilizers in the domestic market, the government added. Supplies to Abkhazia and South Ossetia do not fall under the quota.
In 2021, mineral fertilizer producers voluntarily fixed marginal prices for products. This was done in accordance with the recommendations of the FAS, the service added. It was assumed that prices would remain at the level of May – July 2021, and indexation would take place in 2022. “In order to maintain the availability of mineral fertilizers for domestic farmers, the department recommended manufacturers not to increase their prices in December 2022,” the FAS added.
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