The shares of Russian companies for the production of fertilizer “FozAgro” and “Akron” were collapsed after the decision of the government to limit the exports of nitrogen and complex composite fertilizers for six months, the data of the Moscow Exchange is evidenced.
Before the news about the restrictions, the cost of “PhosAgro” shares on November 3 reached 5724 rubles per piece, “Accrona” – up to 10,500 rubles. After messages about the ban of paper lost 5.1 and 15 percent, respectively, dropping to 5432 and 8924 rubles.
Russia’s Prime Minister Mikhail Mishustin said that the ban on fertilizer export will allow preventing price increases for products. Restrictions for nitrogen fertilizers are installed at no more than 5.9 million tons, for complex nitrogen-containing – no more than 5.35 million tons.
The demand for Russian fertilizers has grown due to growth in Europe for natural gas, which is needed for the production of ammonia. The rise in price of fuel led to the closure of many European fertilizer production enterprises.