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Russia to limit exports of nitrogen fertilizers for six months
Author of the article:Reuters
Reuters
Publishing date:Nov 03, 2021 • 30 minutes ago • 1 minute read • Join the conversation
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MOSCOW — Russia will limit exports of nitrogen fertilizers and complex nitrogen-containing fertilizers for six months to try to curb any further increase in food prices amid higher gas prices, Prime Minister Mikhail Mishustin said on Wednesday.
“The increase in natural gas prices has had a negative impact on the global markets,” Mishustin told a government meeting.
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“This could lead to higher prices and shortages of nitrogen fertilizers, in the production of which the price of gas occupies a significant part, and, as a consequence, cause an increase in the cost of food products. To prevent this, the government is imposing temporary restrictions on the exports,” he added.
The quota for exports of nitrogen fertilizers will be set at 5.9 million tonnes, and for complex nitrogen-containing fertilizers at 5.35 million tonnes, he said. (Reporting Andrey Ostroukh and Anton Zverev Writing by Polina Devitt Editing by Mark Potter)