Russian fertilizer producers supplied 80% of the projected annual demand
According to the Russian Ministry of Agriculture, compared with last year, Russian farmers increased the purchase of mineral fertilizers by more than 6% – up to 4.4 million tons, taking into account the accumulated resources. Thus, by mid-August, Russian producers of mineral fertilizers provided 80% of the forecast volume of acquisition of the agro-industrial complex for the whole of 2023.
PhosAgro remains the industry leader in total deliveries of all types of mineral fertilizers of its own production to Russian agricultural producers with a share of 20.7%. Of the enterprises-memebers of the Russian Fertilizer Producers Association (RFPA), the leading positions are also occupied by EuroChem (15.3%) and Acron (13.3%).
According to the RFPA, in the January-July period of this year, Russian producers of mineral fertilizers increased the production of finished products by 3% – up to 31 million tons.
“For the mineral fertilizer industry, ensuring uninterrupted supplies to the Russian market and fully meeting the needs of local farmers is an absolute priority. The demand for mineral fertilizers from the agro-industrial complex of Russia continues its rapid growth. At the same time, by mid-August, the volume of mineral fertilizers purchased by agricultural enterprises is 80% of the forecast volume for the whole year. Based on our experience of working with Russian agricultural producers, we can say with confidence that we will provide 100% mineral nutrition for autumn field work,” said RFPA Executive Director Maxim Kuznetsov.
“This year RFPA is celebrating its 15th anniversary. During this time, Russian farmers more than tripled their fertilizer consumption to a record 5.8 million tons last year. According to our estimates, in the next 5-7 years, the consumption of mineral fertilizers in Russia will exceed 11 million tons. To meet this need, RFPA member companies plan to invest about 2 trillion rubles (approximately $2.25 billion) in the development of production capacities and regional logistics channels. These investments will become a reliable foundation for the continued growth of the Russian agro-industrial complex, which has become a real locomotive of the country’s economy in recent years,” concluded Maxim Kuznetsov.