PhosAgro may challenge US duties in court
According to the statement of PhosAgro CEO Andrey Guryev, the company is considering the possibility to challenge in the US court the decision of the US International Trade Commission to impose import duties on phosphorus fertilizers produced by PhosAgro.
He also added that PhosAgro still doesn’t supply fertilizers to the US, which are subject to the duties.
“We keep all the markets in our attention and choose those with the best prices. Assuming that the US price is higher than in other markets, we may return there. But for the four months of the current year, we didn’t supply any products on which the duty is set. We continue the sales of duty-free feed phosphates,” explained Andrey Guryev.
In March, the US International Trade Commission decided to impose duties on the import of phosphorus fertilizers from Russia and Morocco. The duty rates were set at 9.19% for PhosAgro, 47.05% for EuroChem, 17.2% for other Russian manufacturers, and 19.97% for the Moroccan OCP Group. The duties that came into force in April are imposed for 5 years.