Fertilizer consumption in Russia may reach 4.5 million tons
The Ministry of Industry and Trade of Russia held a meeting with the largest mineral fertilizer producers. The meeting, where parties discussed the market situation on the eve of the high demand season, was chaired by Deputy Head of the Department Mikhail Ivanov.
The participants confirmed that they’re ready to work within the frame of the agreement signed in 2019 between the Russian Fertilizer Producers Association (RFPA) and AgroPromSoyuz and fully provide consumers with mineral fertilizers.
Particularly, the agreement provides that in the condition of a sharp change in the macroeconomic situation, various mechanisms to control the price for mineral fertilizers that do not violate market pricing principles may be applied. The production of mineral fertilizers in Russia in 2020 increased by 5.5% compared to 2019 and amounted to almost 55 million tons. Russian manufacturers currently produce more than 60 types of high-quality mineral fertilizers, which are demanded both in the domestic and global markets.
Moreover, participants of the meeting believe that one of the factors for maintaining a stable situation with the supply of fertilizers is the advanced planning and purchasing of fertilizers throughout the year. Besides, the Ministry of Agriculture of Russia provides subsidiary support to farmers, while producers receive information on the forecasted demand of the domestic market.
According to the statistics of the Russian Ministry of Agriculture, agricultural producers acquired 4 million tons of mineral fertilizers last year, which is 466.8 thousand tons more than in 2019. In 2021, agrarians plan to purchase about 4.5 million tons of mineral fertilizers.
“Taking into account the recovery trend in prices for mineral fertilizers in the world market on the eve of spring field works, the Ministry of Industry and Trade of Russia proposes to focus efforts on coordinating the actions of producers and consumers of mineral fertilizers to ensure sustainable supplies of these most important products to farmers. I believe that the collaborative work will allow us to confidently go through the spring and autumn periods of high demand,” said Mikhail Ivanov.
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