Russia’s fertilizer exports in first nine months of 2023 increase by 9.4%

Russia’s total fertilizer exports in the first three quarters of 2023 increased by 9.4% year on year, to 25.3 million tonnes, local media have been reporting, citing research from Gazprombank’s Center for Economic Forecasting.

The increase is said to be attributable to a 9.7% growth in potash exports and an 8.6% rise in urea exports. According to the bank’s data, while exports to Europe have decreased by 13% – exports to Turkey and India have increased by 200%.

The Center for Economic Forecasting also reportedly found that Brazil remained the single largest consumer of Russian fertilizer exports, accounting for 24% of all international deliveries. Next was India (14%), ‘European countries’ (13%), the US (12%), and China (9%).

Despite the year-on-year growth, exports have not yet returned to the levels recorded in 2021.