Russia poised for record fertilizer exports – industry chief – RT Business News
Russia is gradually restoring fertilizer sales in international markets and could return to 2021 levels, when exports hit record highs, the head of the Russian Association of Fertilizer Producers (RAPU) said earlier this week. ).
Andrey Guryev acknowledged that it is already impossible to match the record for the whole year, but that fertilizer exports in Q2-Q4 2023 could easily reach the export levels seen in the same periods of 2021.
“Russian fertilizer exports are recovering overall for a number of products, although there is still a slight year-on-year decline, mainly due to potassium supply,” Guryev told reporters on the sidelines of the Russia-China business forum.
The official noted that the market recovery is mainly due to the fall in world prices of mineral fertilizers and that in terms of volume, Russian exports will certainly recover to some 38 million tons.
Russia’s customs service did not release statistics on the volume of fertilizer exports in 2022, but said that in monetary terms, they increased by 50% to $19.3 billion. Meanwhile, RAPU reported that in physical terms, overseas sales saw a 15% year-on-year decline last year.
Russian fertilizer producers saw an 11% drop in production to 23.5 million tonnes in 2022, with potassium chloride production falling 32% to 7.3 million tonnes, according to data from the Russian national statistics agency Rosstat, quoted by the business daily Vedomosti.
According to the RAPU, the production of potassium chloride has decreased by 35%. The drop was attributed to reduced exports due to the sanctions and weak demand for the product in the domestic market.
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