Russia’s revenue from fertiliser exports soared last year despite a decline in sales volumes, as crop nutrient prices rose sharply, Financial Times reported.
In the first 10 months of 2022, Russian fertiliser exports jumped 70% to $16.7bn compared to the same period in 2021, according to UN data.
Import statistics from Moscow’s trade partners show that, in volume terms, overseas sales by the world’s largest fertiliser exporter only fell 10% from the same period the previous year, analysis by the UN Food and Agriculture Organization found.
Food and fertiliser exports from Russia are exempt from western sanctions in order to support food security, especially for poorer countries. Moscow has been increasing its exports to countries such as India, Turkey and Vietnam.
