The Ministry of Agriculture assessed the situation on the market of mineral fertilizers in Russia

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A shortage of mineral fertilizers in the agro-industrial complex of Russia is not expected in 2021. This was announced by the First Deputy Minister of Agriculture Dzhambulat Khatuov at the XXXII Congress of the Association of Peasant Farms and Agricultural Cooperatives.

The First Deputy Minister said that this year the farmers plan to use about 4.5 million tons of fertilizers, while farmers already have 2 million tons as transitory residues.

Khatuov also noted that prices cannot but rise. Compared to 2019 and 2020, when mineral fertilizers fell by 40%, some growth will be observed.

“For example, saltpeter – the total cost for the year increased by 12%, of which 5% – last year’s inflation, last month – this year’s inflation,” the official said.

It is noted that the entire volume of mineral fertilizers for which the contracts were concluded has already been delivered to regional warehouses. By early February, Russian producers had already procured more than 700 thousand tons of mineral fertilizers for spring field work, which is almost 20% of the increased annual demand of the Russian agro-industrial complex in 2021.

The Ministry of Agriculture also predicted that by 2024 the consumption of fertilizers will double and amount to 8 million tons. To meet the growing domestic demand and not lose foreign markets, Russian producers will have to increase their production capacity by a quarter. Over the past 5 plus years, fertilizer producers have already invested in the expansion of production have invested more than 1 trillion rubles