Russian fertilizer producers were asked to stop exports
The Ministry of Industry and Trade of Russia held a meeting on the situation with the mineral fertilizer market. The participants discussed the difficulties with supply chains and unfair performance by foreign customers.
Due to the rapid growth of natural gas prices, many foreign plants have reduced the production of mineral fertilizers, which only increased the demand for Russian products on the global market. They are environmentally friendly and can be used on any type of soil without the risk of contamination.
According to the statement of the Minister of Industry and Trade of Russia Denis Manturov, Russia is one of the three world leading suppliers of mineral fertilizers and plays an important role in ensuring global food security. This is especially important given the various risks for agriculture such as annual droughts, floods, the constant growth of the world’s population (about 1.25% per year), and, accordingly, an increase in food consumption.
There is currently a situation that due to the injurious actions of some foreign logistics companies, farmers in Europe and other regions cannot receive the contracted volumes of mineral fertilizers. This creates obvious risks of crop failure and, as a result, food shortages for the countries of Western and Eastern Europe, Latin America, South and Southeast Asia. After all, it’s either extremely difficult or even impossible to replace Russian fertilizers today. Disruptions in shipments of mineral fertilizers can directly affect the national security of a number of countries and cause serious consequences in the form of food shortages in the medium term.
Taking into account the current situation with the work of foreign logistics operators and the risks associated with it, the Ministry of Industry and Trade of Russia was forced to recommend to Russian producers to temporarily suspend the export of mineral fertilizers until the carriers resume rhythmic work and provide guarantees for the implementation of export deliveries in full.