Russia in 2022 earned 70% more from fertilizer exports than in 2021 Despite the unprecedented sanctions pressure, the decline in sales of Russian products in terms of volumes was recorded by only 10%. Business Insider Polska writes about it.
Despite the forced decline in sales, the amount received from the export of Russian fertilizers increased by 70% in 2022, the newspaper writes. This happened as a result of a sharp rise in prices recorded after the start of Russia’s special operation in Ukraine.
The newspaper recalls that Russia is the largest exporter of fertilizers in the world. It is noteworthy that the decrease in sales of Russian products in terms of volumes was recorded by only 10%. Thus, the newspaper notes, the forecasts of Western analysts that the export of fertilizers from Russia will collapse did not come true.
At the same time, the rise in prices for fertilizers in the world began even before the start of the special operation in Ukraine, the newspaper writes. This was due to the global rise in natural gas prices. At the same time, prices for potash, another important fertilizer, also rose in price after Western governments imposed sanctions on Belarus, one of the leading producers of potash fertilizers.
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