OREANDA-NEWS  The Russian authorities are thinking about the introduction of an eight percent duty on the export of fertilizers. This may affect all types of fertilizers and last for a year and a half, Interfax reports, citing several sources familiar with the discussion.

It is clarified that in this way the Ministry of Finance expects to receive 120 billion rubles from the industry, budgeted for 2023. The rate of eight percent, which is currently being discussed in the government, will not be tied to the price of products, the agency's sources noted. At the same time, the Ministry expects that exporters will pay the planned amount in advance by the end of the year. The new rate can be earned as early as September 1.

Currently, the duty is levied on the export value of fertilizers above $ 450 per ton at a single rate of 23.5 percent. The Ministry of Finance expected that during the year it would be possible to collect about 120 billion rubles from manufacturers. However, in fact, in the first six months, the budget received only five billion from the new collection.