American farmers overpay for phosphorus fertilizers

The US farmers are currently forced to purchase phosphorus fertilizers at prices much higher than in Canada or Brazil due to the previously imposed duties on their imports, said PhosAgro Deputy CEO for finance and international projects, Alexander Sharabaika during his speech at the 24th St. Petersburg International Economic Forum.

“Today, Russian producers cannot supply their products — even with such unique ecological properties as ours — to the American market. Therefore we are selling our products to other markets. This is a global business, and there is no problem supplying goods to other countries, while a farmer in the United States pays the highest price, which is approximately 15-20% higher than in neighboring countries,” said Alexander Sharabaika. “During the hearings on this issue, all farmers supported the position of producers from abroad, because one local manufacturer closed this market and monopolized it. Such decisions should be made more carefully, as it’s much easier to close the market than to open it back. In terms of the cost of opening this market, we will have to pass a very long way, and this is what we intend to do. We have all the possibilities. Currently, we have filed an appeal, however, the process is not fast, and it may take about five years to return to the point of 2020.”