Russia restricts fertilizer exports until December to address global supply shortages

Golden Ten Data reported on April 22 that due to the Iran war and the disruption of the Strait of Hormuz leading to a global fertilizer supply shortage, Russia has extended its fertilizer export quotas until December. In a statement on Wednesday, the Russian government announced that from June 1 to November 30, domestic producers can export 20 million tonnes of fertilizer. Russia is the world's second-largest fertilizer producer, accounting for about 20% of global fertilizer trade. Currently, the country has begun to prioritize domestic supply, with the current export quota set at 18.7 million tonnes, effective until the end of May. Additionally, Russian farmers are receiving preferential pricing. According to the Russian government, the new restrictions will cover 8.7 million tonnes of nitrogen fertilizer, over 4.2 million tonnes of ammonium nitrate, and around 7 million tonnes of compound fertilizer.