Russia’s income from fertilizer exports increased by 70% in 2022, - Financial Times
Russia’s revenue from agricultural fertilizer exports rose 70% to $16.7 billion in 2022, despite declining sales as nutrient prices rose sharply after February 24.
This is reported by the Financial Times, Censor.NET reports with reference to Economic Truth.
"According to UN data, in the first 10 months of 2022, Russian exports of fertilizers increased by 70% to 16.7 billion dollars compared to the same period in 2021. Import statistics from Moscow's trading partners show that in volume, sales abroad fell by only 10% compared to the same period last year," the report said.
Food and fertilizer exports from Russia are exempt from Western sanctions to support food security, especially for poorer countries. Moscow is increasing exports to such countries as India, Turkey and Vietnam.
One of the goods whose export continues is ammonia, a raw material for nitrogen fertilizers, due to the closure of the pipeline through Ukraine. Russia accounts for about 12 percent of the world's ammonia export market.
Russian exports of this product, which is also used in industries such as plastics and textiles, fell by 76% in volume in the first nine months of 2022 compared to the same period last year, according to UN data.
