OREANDA-NEWS  Fertilizer producers have proposed to the Ministry of Industry and Trade to raise domestic prices, which have been "frozen" since the autumn of 2022, by 15 percent since January. This is reported by TASS with reference to a source in the industry.

The agency points out that now the fixation of the cost of fertilizers has been extended until May 2025, and the request of the business is related to the fact that "since then, gas prices have been indexed three times, an excise tax on it is being introduced, transportation tariffs are rising, salaries have been indexed."

In October, the Russian government increased the export quota for complex mineral fertilizers. It was noted that the decision "will allow manufacturers to export unclaimed remnants of finished products in conditions of full satisfaction of the needs of the domestic market." According to the information on the Cabinet's website, the new quotas totaling about 19.2 million tons (including about 11.2 million tons for nitrogen fertilizers) will be valid from December 1, 2024 to May 31, 2025.

In the first half of this year, Russian companies increased fertilizer supplies to EU countries by 70 percent year-on-year. The sharp increase in purchases was explained by the fact that they turned out to be more profitable than their own production due to expensive gas in Europe.