Russia's Industry and Trade Ministry proposes extending fertilizer export quotas until Nov 30, 2024

MOSCOW. March 28 (Interfax) - Russia's Industry and Trade Ministry proposes extending the quotas to export nitrogen and complex fertilizers from June 1 to November 30, 2024.

The ministry has prepared the corresponding government draft resolution and posted it on the regulation.gov.ru portal.

The overall export quotas for the period, according to the draft resolution, will be nearly 19.8 million tonnes, including for nitrogen fertilizers, namely urea, urea-ammonium mixture, and ammonium nitrate, at 12.5 million tonnes, and complex fertilizers (Foreign Economic Activity Commodity Nomenclature (FEACN) codes 3105 20 100 0, 3105 20 900 0, 3105 40 000 0, and 3105 59 000 0) at 7.3 million tonnes.

Non-tariff quotas to export nitrogen and complex fertilizers from Russia were introduced on December 1, 2021, as one of the measures to curb rising food prices. The restrictions are currently in effect until May 31, 2024. The total volume of quotas for the period from December 1, 2023, to May 31, 2024, is 16.95 million tonnes.