Russian ministry working on possibly extending fixed fertilizer prices to year's end

MOSCOW. April 21 (Interfax) - Russia's Industry and Trade Ministry is currently working with relevant government agencies on the possibility of extending the fixing of prices for mineral fertilizers until the end of the year.

"This issue is now being discussed with interested companies and agencies," the ministry's press service told Interfax.

At the end of last year the government approved a procedure for entering into agreements on supplies of nitrogen and nitrogen-containing fertilizers to Russia's regions at fixed prices for the period from December 2021 to the end of May 2022. In the agreements, the parties can fix the volume of fertilizer supplies, and the price is set at no more than the average price in May-July 2021 on FOB plant terms. The agreements prohibit the resale and transfer of the fertilizer to third parties outside of one group of parties.