Russia to increase export quotas for nitrogen and complex fertilizers

Russia plans to increase its export quotas for nitrogen and complex fertilizers, said the Economy Ministry on the 31st.

According to the ministry, Russia will raise quotas by 231,000 tonnes for nitrogen fertilizers and 466,000 tonnes for complex fertilizers.

In November last year, previous export quotas were 5.9 million tonnes for nitrogen fertilizers and 5.35 million tonnes for complex nitrogen-containing fertilizers.

Moscow had decided to limit exports of these products from December 1 to May 31 to help contain food price increases amid higher gas prices.

The 31st measure will help boost exports of these products while at the same time ensuring a sufficient amount of nutrients for domestic farmers, the ministry said.

Russia is a large provider of potassium, phosphate, and nitrogen fertilizers, critical nutrients for crops and soil. The country produces around 50 million tonnes of these fertilizers each year, accounting for 13% of the global total, and sells them to Asia and Latin America.

Source: Money Times

To read the full original article, please go to:

https://www.moneytimes.com.br/russia-aumentara-cotas-de-exportacao-de-nitrogenio-e-fertilizantes-complexos/

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