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Russia's export of mineral fertilisers may drop by 15% this year

Russia's export of mineral fertilizers may drop by 15 per cent this year, better than a 20-per cent reduction projected in the summer, said a top official

The brand name will be tagged with the name of the scheme under which the government grants subsidy to the fertiliser manufacturers

IANS Moscow
Russia's export of mineral fertilizers may drop by 15 per cent this year, better than a 20-per cent reduction projected in the summer, said a top official.
Andrey Guryev, head of the Russian Fertilizer Producers Association, said the export drop is due to Western sanctions imposed in the wake of Moscow's ongoing war against Ukraine, reports Xinhua news agency.
Starting from June to July, Russian producers increased supplies to the markets of "friendly countries", said Guryev.
Guryev said that Russian companies reduced supplies of potassium and phosphate to Europe and increased the supply of mineral fertilizers to India and the Middle East, mainly Turkey.
In addition, the share of Russian fertilizers in the market of African countries has significantly increased, he added.
--IANS
ksk/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Dec 29 2022 | 7:21 PM IST

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