Government plans to forecast agrochemical prices in Russia

As the press-service of the Ministry of Industry and Trade of Russia reports, the Ministry doesn’t see the need to freeze or introduce strict regulations of prices for mineral fertilizers. Authorities are ready to take immediate actions in case of an explosive rise in prices.

“Currently, we do not see reasons to freeze prices or implement other strict regulation measures,” it said The press-service also noted that the Ministry of Industry and Trade and the Ministry of Economic Development of Russia have developed a model for forecasting prices for mineral fertilizers and calculating their availability on the domestic market.

“In case of an explosive (or unjustified) rise in prices for mineral fertilizers, the government of the Russian Federation will take appropriate response measures,” added the press-service of the Ministry of Industry and Trade of Russia.

According to the Ministry’s statement, since the beginning of the year, farmers have purchased 2.93 million tons of mineral fertilizers, which is 94% of the declared by the Ministry of Agriculture demand for the spring field works and 448 thousand tons more compared to the same period last year.

Source: TASS