The quota system for the export of fertilizers from Russia can be maintained until the spring of 2023, there will be no price indexation for the domestic market, which was planned in December, Denis Manturov, Deputy Prime Minister, head of the Ministry of Industry and Trade of the Russian Federation, told reporters on the sidelines of the World Quality Day forum, reports Interfax.
“We are conceptually ready to meet the needs of the farmers and keep the old format for the time being. There will be no price indexation for domestic consumption this year, we have postponed this decision to next year. The existing quota system may also be maintained at the beginning of 2023, and then in the spring we will make further decisions,” he said.
Prices for fertilizers for the domestic market of the Russian Federation were frozen in July 2021 amid their strong growth in export markets. This summer, the Federal Antimonopoly Service approved methodological recommendations for developing a trade policy for fertilizer producers, they provided for a phased indexation of prices for Russian farmers in 2022: by 5% from June 1, by 5-10% (depending on the type of fertilizer) from September 1 and by 8,4-8,6% - from December 1.
In addition to fixing prices, the Russian government introduced quotas for the export of nitrogen and complex fertilizers from December 1, 2021. Currently, this measure is valid until December 31, 2022, however, the Ministry of Industry and Trade did not previously exclude its extension. until May 2023.