Fertilizer prices may be taken under control

The Ministry of Agriculture of Russia held an interdepartmental meeting on the situation with the prices in the mineral fertilizer market.

During the meeting, appeals from some regions and industry unions were considered, which noted an increase in prices for certain categories of fertilizers. The Ministry of Agriculture believes that for the further dynamic development of the fertilizer industry and the highest results of seasonal works, it’s necessary to prevent sharp price fluctuations in this segment.

According to the regional authorities of the agro-industrial complex, in the period from January 1 to February 8 this year, farmers purchased 707.6 thousand tons of mineral fertilizers, which is 20.9 thousand tons more than in the same period last year. Totally in 2021, agricultural producers plan to acquire about 4.5 million tons of mineral fertilizers.

Following the meeting, it was decided that the further joint development of measures to stabilize mineral fertilizer prices will be carried out. An interdepartmental working group has also been created, which will focus on developing decisions in this direction.