Russian government proposes a new law to fix fertilizer prices
The Ministry of Agriculture of Russia has proposed the government fix mineral fertilizer prices as a long-term measure to control them.
As follows from the statement of the Ministry, fertilizer prices in the domestic market have increased by 125% this year. It’s happening due to an increase in prices in the global market. High prices create risks for agricultural enterprises and farmers not to receive enough volume of mineral fertilizers because they are too expensive or unavailable. This leads to a reduced yield of crops and then the production of food.
In this regard, the Ministry of Agriculture of Russia proposes to develop a decree which determines the indicator of the availability of fertilizers on the market that depends on the situation in the food and mineral fertilizer markets. If the indicator falls below a certain target value, the fertilizer prices will be fixed.