Russia introduced export duties on mineral fertilizers
In January 2023, the state decree came into force in Russia, providing for the introduction of customs duties on the export of mineral fertilizers outside the Eurasian Economic Union.
As follows from the document, they apply to the main groups of mineral fertilizers – nitrogen, phosphorus, potassium, and complex. They have a single rate of 23.5%.
However, the basis for calculating the amounts payable to the budget is the difference between the customs value and the price in the amount of $450 per 1 ton. If the customs value of exported mineral fertilizers is $450, then no duties are levied on them.
At the same time, new quotas for the export of mineral fertilizers came into force as well. Their total size is just over 11.8 million tons, the validity period is from January 1 to May 31, 2023.