Russian farmers purchased 2% more fertilizers than planned from June through October, buying almost 4 million mt, according to an Interfax report, citing an Agriculture Ministry press release.
The ministry said seasonal fieldwork is concluding and fertilizer is being acquired steadily, despite certain difficulties, and new purchases are also underway for spring planting in 2024. According to the ministry, the price situation on the domestic fertilizer market is “stable” and the price of most types of fertilizer is currently “lower than last year.”
Agriculture Minister Dmitry Patrushev said regulatory measures [export quotas] on the fertilizer market are in effect until the end of November, and “given their effectiveness,” Russia’s Industry and Trade Ministry has proposed extending export quotas for nitrogen and complex fertilizers for another six months, to May 31, 2024 (GM Nov. 3, p. 31).
The ministry has proposed a quota amount of 16.95 million mt for the Dec. 1 to May 31 period, according to an earlier Interfax report.