The Ministry of Agriculture of Russia wanted to stop the rise in prices for mineral fertilizers. With an appropriate request in the letter, the department appealed to the government of the country for November 1, writing “Izvestia”.
Ministry of Agriculture suggested fixing prices for mineral fertilizers – it will become a long-term measure to regulate the market. In a letter of departments, the Government emphasizes that since the end of 2020 in Russia and the world there is a rise in price of food.
According to the information of the Food and Agriculture Organization of the United Nations (FAO), in September 2021, products prices exceeded a similar last year’s indicator by 32.8 percent. In Russia, food inflation for the year in September reached 9.2 percent, and the production of agricultural products increased in a cost of 15-25 percent. At the same time, the price of mineral fertilizers took off 125 percent over the year.
Prices for mineral fertilizers in the domestic market are increasing from the world. The deficit of this product will reduce the yield, suggested in the agency, and called on to develop a special regulatory act. The document should consolidate the availability of fertilizer in the market with the calculation of the relevant index, which is formed depending on the situation in the food and mineral fertilizer markets. If the indicator demonstrates the value below a certain level, the cost of goods will be recorded for sale.
Earlier it was reported that Russia has limited the export of nitrogen fertilizers to May 31, 2022. Manufacturers must distribute the quota to each other until November 25.