Russia to Slap Quotas on Fertilizer Exports to Safeguard Supply
- Russia plans six-month quotas on some fertilizer exports
- Interfax reports that quotas will be implemented in December
Bags of plant fertilizer are moved by a mechanical hoist at a fertilizer plant in Cherepovets, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia plans to impose a six-month quota on some fertilizer exports to safeguard local supplies and limit costs for farmers after the energy crisis sent nitrogen nutrient prices soaring.
The move -- covering exports of nitrogen and complex fertilizers containing nitrogen -- comes as nutrients prices have surged globally as soaring gas prices boost production costs and force some plants to cut production. That risks curbing harvests in the year ahead and accelerating food inflation.