Russian fertilizer producers will meet in full the increased demand from domestic farmers for 5 million mt (100 percent of nutrient content) forecast for 2022, according to a media release by the Russian Fertilizer Producers Association (RFPA) this week, citing figures from Russia’s Ministry of Agriculture.
To meet this increased demand, Russian fertilizer producers are planning to invest another RUB500 billion (approximately $6.9 billion at current exchange rates) in 2021-2022 in the development of this production facilities, the association reported.
“This year, the initial forecast of fertilizer demand for the domestic market already has been increased by 20 percent from 3.8 million mt to 4.5 million mt, and it will be fully met,” said RFPA President and PhosAgro CEO Andrey Guryev.
Sufficient fertilizer already has been provided for spring field work, and there is enough to cover 70 percent of the demand through the end of the year, he said.
Next year, according to the producers association, Russian agricultural producers will need fertilizers containing about 5 million mt of active ingredients, based on preliminary information provided by working meetings with representatives of Russia’s Ministry of Agriculture.
The RFPA noted that today the storage capacity of fertilizer manufacturers’ logistics networks exceeds 1.5 million mt and continues to grow, “ensuring products can be delivered to the regions in advance and are available to fields at the optimal time.”