Export of Russian fertilizers fell by almost 2 times

As follows from the report of the Federal Customs Service, by the end of January 2023, the export of Russian fertilizers amounted to $792 million. At the same time, in January 2022, the total external supplies of various groups of goods from the Russian Federation related to the fertilizer section were estimated at $1.534 billion. Thus, the Federal Customs Service actually recorded a two-fold decrease in fertilizer exports (by 49%).

The Federal Customs Service does not publish data on exports in tonnage for January of this year. However, according to Russian Railways, exports of fertilizers by rail during the January-February period of this year decreased by almost 21% compared to the same period last year, to 4.7 million tons. Export through border crossings sank 2.3 times to 0.95 million tons, through ports – increased by 1% and amounted to 3.7 million tons.

At the end of 2022, there was a reverse trend. Despite all the restrictions on the export of mineral fertilizers from Russia and logistical difficulties, the foreign trade turnover of the Russian Federation for these products in monetary terms increased by 55% to $19.6 billion. At the same time, deliveries abroad decreased in physical terms. The increase was due to high prices in international markets in 2022. But already at the end of last year, prices began to decline significantly.

Source: RUPEC