Economist talks about Russia's strong position in the global fertilizer market

The share of Russian fertilizers in the international market ranges from 15% to 20%. This leadership is due to the fact that some types of fertilizers, such as nitrogen fertilizers, are produced from gas, the country's reserves of which are large. Mikhail Belyaev, a financial analyst and candidate of economic sciences, told Izvestia on January 27.

Earlier, on January 26, "RIA Novosti" with reference to the UN Comtrade platforms and according to national customs and statistical services reported that the main buyers of Russian fertilizers in January-November 2024 were Brazil, India and China - total imports amounted to $6.16 billion.

"Russia is a gas-producing country, <...> we produce these fertilizers in large quantities. Our position is very strong because there are not many competitors in the international raw materials market, due to the lack of raw material base," Belyaev explained.

According to him, Russia continues to hold leading export positions in the global raw materials market, as modern agriculture and agronomy are impossible without the use of fertilizers.

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In addition, the BRICS interstate association also influences the maintenance of Russian exports.

"Agricultural producers like Brazil and India purchase fertilizers in significant quantities to sustain their agriculture. These countries are part of the BRICS association aimed at actively maintaining economic ties," Belyaev said.

According to the specialist, the BRICS member countries see Russia as a reliable partner-supplier.

"In terms of procurement, Russia is also seen as a reliable supplier. This is also a positive moment for us, because these markets act as stable markets for us, where we can send products that are very important for us," Belyaev summarized.

Earlier, on January 21, Associate Professor of the Department of Economic Policy and Economic Measurements of GUU Maxim Chirkov in a conversation with "Izvestia" ruled out the introduction of U.S. duties for the BRICS countries. According to him, US President Donald Trump's statement about the introduction of 100 percent duties on the countries of the association due to NATO defense spending looks extremely unlikely in view of the destruction of the United States economy, as it is significantly dependent on goods from the BRICS countries, especially from China, which is the main supplier of various products in the country.