Agrochemicals in Russia are cheaper than abroad

As the Deputy Minister of Industry of Russia Viktor Evtukhov said, the need of Russian farmers for mineral fertilizers this year will be met in full. According to his statement, the demand for mineral fertilizers in 2021 will increase to 4.5 million tons from 3.8 million tons last year.

“The Ministry of Agriculture of Russia informed that the minimum demand for mineral fertilizers in 2021 will grow from 3.8 million tons to 4.5 million tons. Our industry will fully satisfy this need,” Viktor Evtukhov said, noting that “the Russian agricultural industry is always a priority for domestic fertilizer producers.”

Special mechanisms, enshrined in the agreement between fertilizer producers and farmers, were developed on behalf of the President to ensure the availability of mineral fertilizers.

“The document defines how our producers should work to ensure the agricultural complex and prevent price increase,” said Viktor Evtukhov, also reporting that the price of mineral fertilizers in Russia is at least 10% lower than in foreign markets.

As the Ministry of Agriculture of Russia previously reported, by the end of February, Russian farmers had accumulated 1.4 million tons of mineral fertilizers, which is 245 thousand tons more than in the same period last year. This volume is 45% of the total need for 2021.

However, farmers are concerned by the rise in prices for mineral fertilizers. Therefore, the Federal Antimonopoly Service (FAS) initiated the inspection of the validity of prices and signs of violation of antimonopoly legislation. The FAS press-services reported that the analysis of the situation will be soon completed and if there are signs of overpricing, appropriate measures will be taken.

Source: Finmarket