The expert spoke about the advantages of fertilizers of the Russian Federation on the world market

Russian fertilizers occupy a significant share in the global market due to the scale of production and reliability of supplies. Mikhail Belyaev, a financial analyst and Candidate of Economic Sciences, told Izvestia on March 10.

Earlier, on March 9, RIA Novosti reported from an analysis of data from the American statistical service that companies from the United States at the beginning of the year increased purchases of Russian fertilizers by 20% year—on-year to $85.5 million.

"We produce fertilizers in large quantities. And all three types: nitrogen, potassium, and phosphorus. But especially we are talking about nitrogen fertilizers, which are produced from gas. We actually occupy up to 20-25% of the global fertilizer market, largely due to the fact that we extract gas, and fertilizers are made from gas," Belyaev explained.

According to him, Russia differs from other exporters in that it always strictly fulfills its obligations, especially on foreign trade supplies.

"Modern agriculture, whether in the United States or any other country, cannot do without fertilizers. The land has been depleted by years of exploitation, and agriculture simply cannot function without fertilizers," the expert added.

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The expert also drew attention to the fact that, despite the sanctions imposed by the United States against Russia, the supply of fertilizers and other materials continues.

"The United States does not impose sanctions that could harm them. It is important to understand this," he said.

According to the expert, the growth of Russian fertilizer supplies is possible due to the involvement of new importing countries that value the availability, low cost and reliability of the Russian product.

"Western Europe, for example, used to produce fertilizers, but now it is extremely difficult for them to compete with us due to the energy crisis. We have established ourselves as extremely reliable suppliers, and this is our main advantage," Belyaev summed up.

The European Commission approved duties on a number of agricultural products from Russia and Belarus and some nitrogen fertilizers on January 28. At the same time, exports of Russian agricultural products and fertilizers to third countries will remain unchanged.

Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at GUU, told Izvestia on January 29 that the introduction of duties on imports of agricultural products and nitrogen fertilizers from the Russian Federation to the European Union would not have serious consequences for the Russian economy. According to him, these restrictions are illogical and will negatively affect the European part of this industry.