The demand for fertilizers in Russia may reach 5 million tons in 2022
Russian producers of mineral fertilizers will fully meet the increased demand of domestic farmers of 5 million tons in 2022. For this purpose, in 2021-2022, companies plan to invest another 500 billion rubles (approximately $6.9 billion) to develop and modernize facilities.
“The enterprises of our industry are already used to working in an environment where the actual demand for mineral fertilizers exceeds the wildest expectations of experts at the beginning of the year. In 2020, this difference reached 600 thousand tons, while the Ministry of Agriculture of Russia twice raised the consumption forecast,” said Andrey Guryev, the President of the Russian Fertilizer Producers Association (RFPA).
According to his statement, the producers adapted their plans following the domestic market needs, supplied all the necessary volume for crops in 2020, and have laid a secure foundation for the 2021 season. This year, the initial forecast has already been increased by 20% from 3.8 to 4.5 million tons and will be fully implemented. Spring field works have been fully provided with mineral fertilizers, and the year demand for them has been covered by 70%.
“According to the preliminary information announced at the meeting with representatives of the Ministry of Agriculture of Russia, domestic farmers will need about 5 million tons of mineral fertilizers next year. Enterprises-members of RFPA are ready to cover this need, ensuring the high quality and efficiency of their products,” concluded Andrey Guryev.