Russia increases fertilizer export quotas by 2.2 million tonnes
The Russian government has increased its mineral-fertilizer export quotas for the current validity period, which runs until November 30, by 2.2 million tonnes, Interfax reported on Thursday.
The news agency said that the export quota for nitrogenous fertilizers will rise by 819,500 tonnes, while the quota for complex fertilizers will increase by 1.39 million tonnes.
As a result, the total volume of exports for the period from June 1 to November 30 is expected to surpass 18.5 million tonnes, Inferfax said. The agency added that so long as the needs of the domestic market are met, Russian fertilizer producers will be able to export any surplus product.
The Russian government introduced export quotas for fertilizers at the end of 2021 as a means of combating rising food prices. The measures are likely to remain in effect from December 1 until May 31, 2024.