Russia’s Agriculture Ministry is reportedly proposing to develop a regulatory legal act that would create an indicator of availability of fertilizers on the domestic market, according to a report by Russia’s Iz.ru, citing a government document.
According to the report, if fertilizer availability drops below a target level, the Agriculture Ministry proposes freezing domestic prices. The proposal is aimed as a long-term measure to combat food price inflation.
Russian growers in recent months have enjoyed a freeze on fertilizer prices courtesy of the country’s biggest fertilizer producers. In October, the largest producers made a voluntary decision to extend a freeze on domestic prices through Dec. 31, (GM Nov. 5, p. 37).
Late this week, Russian producers agreed to extend the price cap for the domestic market until the end of May, according to a Tass report, citing Russia’s Deputy Minister of Industries and Trade, Mikhail Ivanov. Prices were fixed in July, initially until the end of October.