Government delays indexation of internal fertilizer prices to 2023

MOSCOW, Nov 11 (PRIME) -- The Russian government has delayed indexation of fertilizer prices for internal consumption to 2023, Industry and Trade Minister Denis Manturov told reporters on Friday.

Fertilizer producers froze their prices for Russian farmers more than a year ago voluntarily, but now the prices are formed in accordance with recommendations of the Federal Antimonopoly Service that say that there should be indexation by 5% on June 1, by 5–10% on September 1, and by 8.4–8.6% on December 1.

“The price indexation for internal consumers (that should have been done on December 1) is not going to happen, we delayed this decision to the next year,” Manturov said.

He also said that the government might maintain the fertilizer export quotas for the beginning of 2023 and make further decisions next spring.

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