Russia’s revenues from the fertilizer exports grew by 70%
During the ten months of 2022, the export of mineral fertilizers from Russia to the world market increased in monetary terms by 70% to $16.7 billion, the UN reports.
At the same time, in physical terms, it decreased by 10%, thus showing the failure of Western analysts’ forecasts about the expected collapse in shipments of mineral fertilizers from Russia abroad: despite the imposition of Western sanctions against shareholders and managers of Russian fertilizer producers, they managed to increase sales to several countries of the world, in particular, to India, Vietnam, Turkey.
“Despite the currently observed decline in prices for mineral fertilizers abroad, Russian producers can restore exports to the level of 2021 this year and thereby level out the change in the price situation,” commented the information and analytical service of Fertilizer Daily.
Source: Financial Times