9 Jan 2023 11:53

Russia imposes export duties on fertilizers until end of 2023

MOSCOW. Jan 9 (Interfax) - Russia imposed export duties on all types of mineral fertilizers as of January 1 at a rate of 23.5% of the price above $450 per tonne.

If the price of fertilizer is under $450 per tonne, the duty will be zero. The duties will be in effect until December 31, 2023.

The fertilizer industry could lose up to 10% of EBITDA due to duties in 2023, analysts from the Moi Investitsii Telegram channel estimated.