Data shows production volumes have slowed due to sanctions
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Russia is gradually restoring sales of fertilizers to international markets, and could return to the levels of 2021, when exports hit record highs, the head of the Russian Fertilizer Producers Association (RAPU) said earlier this week.
Andrey Guryev acknowledged that it is already impossible to equal the record for the entire year, but that fertilizer exports in Q2-Q4 2023 could easily reach the export levels seen in the same periods of 2021.
“Exports of Russian fertilizer are recovering overall for a number of products although there is still a slight drop year-on-year mainly owing to the supply of potassium,” Guryev told reporters on the sidelines of the Russia-China business forum.
The official noted that market recovery is mostly due to declining global prices of mineral fertilizers, and that in terms of volume, Russian exports will definitely recover to some 38 million tons.