Russia will increase the share of mineral fertilizers in the global market to 25%

By 2030, Russia plans to increase its share in the global market of mineral fertilizers from 18-20% to 25%: now the country ranks second in their production after China. This became known on July 17 at a meeting between Vladimir Putin and the head of the Russian Association of Fertilizer Producers (RAPU). By Andrey Guryev. While the EU is rejecting Russian resources to its detriment, the supply of mineral fertilizers to India has already increased fourfold.

What was discussed at the meeting

By 2030, Russia plans to increase the share of mineral fertilizers in the global market to 25% from today's 18-20%, said the head of the association. According to him, their production in the country in 2025 will grow from 63 million tons to 65 million tons. "Today we are the world's second largest producer of mineral fertilizers after China, but the largest exporter," said Andrey Guryev.

Vladimir Putin called the EU restrictions on Russian fertilizers completely stupid. The President noted that Europe's rejection of these raw materials will eventually accelerate food prices. RAPU estimates the losses of farmers in the region at 500 million euros per year. Moreover, the EU's complete rejection of Russian fertilizers within three years will lead to a drop in yields in the region and their prices will rise.

The EU already has the highest prices for mineral fertilizers in the world. "The example of America and duties has shown that prices for mineral fertilizers can rise by $100, $150, or, let's say, by 20%, by 30%. And, accordingly, sustainable European farmers will either have to reduce their crops or ask for subsidies," said Andrey Guryev.

After the sanctions, the Russian industry was able to reorient itself to other markets, in particular, shipments to India increased fourfold, the head of the association said. According to Vladimir Putin, Indian Prime Minister Narendra Modi directly asked him to increase these supplies to the republic. Andrey Guryev noted that the request of the Indian leadership has been fully implemented, the companies have supplied over 1 million tons of mineral fertilizers. Today, the BRICS countries account for almost 50% of the consumption of such raw materials in the world, and this market will grow.