The Ministry of Industry and Trade expects a drop in exports of fertilizers from Russia by 10%
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With full satisfaction of the needs of the domestic market, the export of fertilizers from Russia in 2022 will decrease by approximately 10%. Mikhail Ivanov, Deputy Head of the Ministry of Industry and Trade, shared this assessment, noting that due to the “good global situation”, export earnings will correspond to the level of last year.
“On the one hand, this is due to objective circumstances, on the other hand, due to the good world market conditions, prices in monetary terms will reach approximately the level of last year,” the deputy minister explained to TASS. He clarified that prices in the domestic market are much lower than in international markets.
By data Federal Customs Committee, in 2021, Russia exported more than 37.6 million tons of fertilizers for a total amount of $12.5 billion. In 2023, the Russian government plans to extend export quotas for a number of types of fertilizers from Russia, including nitrogen and complex ones.
On the situation on the fertilizer market – in the material “Kommersant” “Export of fertilizers will be limited symbolically”.
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