Russian fertilizer producers will be subsidized for shipping costs

The Ministry of Industry and Trade of Russia has announced a selection process for subsidies from the federal budget for chemical companies to compensate for 80% of their shipping costs.

According to the department’s press-release, in 2022, the maximum level of compensation for logistics costs should not exceed 11% of the cost of the delivered products, and the maximum payment per organization is 500 million rubles (approximately $8.3 thousand). The funds will be provided for all chemical enterprises, including those producing mineral fertilizers, for the supply period from July 1, 2021 to June 30, 2022.

Companies are able to apply for the participation in the program from August 10 to September 15, 2022.