Russia is trying to save its fertilizer exports

In Russia, they plan to create a single trading company for the export of fertilizers. In this way, Moscow wants to maintain its influence on pricing on world markets.

The Russian Federation is the world’s largest producer of fertilizers, the products of which account for about 15% of the world’s annual consumption. Although Russian fertilizer companies have not been subject to international sanctions due to the invasion of Ukraine, Baltic ports have stopped transshipment of most products. The outflow of global transport companies, international banks and insurers from Russia has also made it difficult to send goods abroad.

The combined trading company will give the Russian government even more control over export revenues. This is reported by Bloomberg.

The idea of monopolizing the export of fertilizers was proposed by Dmitry Mazepin, the founder of the Russian “UralChem” back in July. Since then, it has been discussed by Minister of Industry Denys Manturov and Prime Minister Mikhail Mishustin.