TASS: fertilizer producers ask the authorities to adjust export duties

Fertilizer producers have asked the government to adjust export duties. About it reports TASS with reference to the Ministry of Economic Development.

The department confirmed that the companies submitted such an application to the Cabinet of Ministers. They refused to disclose details, noting that the date for the meeting of the subcommittee on customs and tariff regulation under the Ministry of Economic Development has not yet been set.

According to a source in one of the relevant departments, the government is considering the possibility of canceling duties for producers of ammonia and methanol and reducing duties on potash from 10% to 3%.

On October 19, First Deputy Minister of Industry and Trade of Russia Vasily Osmakov announced that the Ministry of Industry and Trade had compiled a list of industrial goods that it considers appropriate to remove from the list of those subject to export duty. He clarified that we are talking about some products of the pharmaceutical and chemical industries. According to him, the changes will not affect the goods of the largest exporters from the metallurgy, fertilizer production, etc.

New export duties linked to the ruble exchange rate went into effect in Russia on October 1, and will last until the end of 2024. The duty is 4% of the customs value of the goods with an average exchange rate of 80 to 85 rubles/$, 4.5% – with rate 85-90 rub./$, 5.5% – at rate 90-95 rub./$. The maximum rate of 7% will be set for exporters at an exchange rate of more than 95 rubles/$. For fertilizers, the duty is up to 10% depending on the ruble exchange rate.