Bloomberg: The US is alarmed that the main world supplies of fertilizers come from Russia, Belarus and China
The US authorities are alarmed that the world's main fertilizer supplies come from Russia, Belarus and China. This was reported by Bloomberg news agency.
As the authors of the publication note, mineral fertilizers have now become an instrument of influence on the world market, while the leading countries in this direction - Russia and China, skillfully use it. Although agricultural products from the Russian Federation are not subject to restrictive measures, their supply has been severely curtailed, since problems with shipping and unblocking ports, conducting money transactions are still not resolved due to the fact that Russian banks remain under sanctions. Barriers also remain on insurance issues.
It should be noted that in the period from March to September 2022, the export of Russian fertilizers decreased by 38 percent compared to 2021. All this is due to the obstruction in the insurance and chartering of ships engaged in the transport of these products, along with the implementation of bank payments.
It is not surprising that in this regard, the Russian Federation had no choice but to introduce from January 1 this year export duties on all types of mineral fertilizers in the amount of 23,5%. From now on, it will be charged if world prices exceed $450/t (approximately 33,6 thousand rubles). Another measure to regulate the supply of this type of product abroad was the decision of the Russian government to extend the quotas for its export for 180 days, until May 31, 2023. The value is set at 7,013 million tons.
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