Russia to extend fertilizer export quotas

Russia will extend its fertilizer export quotas for the winter and spring 2022/23 crop seasons, starting in July and ending in June next year. The restriction on foreign sales of the product began on December 1, 2021, and should end on May 31 this year.

The extension was announced by the country’s Deputy Prime Minister, Victoria Abramchenko, on social media. “The delivery of mineral fertilizers to farmers in sufficient quantities and at reasonable costs is critical to the success of the sowing season. We shall do so by extending the existing quota mechanisms,” wrote Victoria on her Telegram account after a meeting with the country’s president, Vladimir Putin.

So far, the Russian government has not detailed how the fertilizer export quota extension will take place. Previously, officials had stated that the measure was temporary to avoid shortages in the domestic market. The country’s current quota system limits shipments of nitrogen-based fertilizers to 5.9 million tonnes and 5.35 million tonnes for complex nitrogen-containing formulations.

Last week, the Russian government increased the quota for nitrogen-based fertilizers by 231,000 tonnes and for complex formulas by 466,000 tonnes.

Russia is one of the biggest fertilizer producers. It is the second-largest world exporter of nitrogen and the third largest global exporter of phosphates and potassium, amounting to 16% of the fertilizers exported in the world.

This action worsens the tightening of the world’s fertilizer supply, adding to Belarus’s export restrictions. Russia is one of Brazil’s primary suppliers, accounting for around 20% of the tonnage imported yearly.

Check below which were the main fertilizers that Brazil imported from Russia in 2021. The data are from DataLiner.

Five most imported fertilizers from Russia to Brazil | 2021 | WTMT

Source: DataLiner (click here to request a demo)

Source: Money Times

To read the full original article, please go to:

https://www.moneytimes.com.br/russia-estendera-cotas-de-exportacao-de-fertilizantes/

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