The European Union doubled the purchase of fertilizers from Russia in March

The European Union (EU) countries almost doubled their purchases of Russian fertilizers in March. This was reported by RIA Novosti on May 20, citing data from Eurostat.

"The EU imported fertilizers from Russia for €50.7 million against € 30.5 million in February. Thus, the amount of imports increased by 1.7 times in monthly terms," the agency calculated.

It is emphasized that potash fertilizers account for the most profitable import of fertilizers from the Russian Federation. The amount of their purchases in the EU reached €30.2 million against €20.9 million in February.

This amount has reached its peak since January 2022. Nitrogen fertilizers from Russia also accounted for the largest increase in exports - the amount of their imports increased 2.6 times, reaching €10.5 million.

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The Politico newspaper reported on May 18 that the EU intends to expand the use of fertilizers based on cow manure and organic waste amid rising prices for traditional fertilizers and a desire to reduce dependence on imports. At the same time, a number of representatives of the agricultural sector and members of the European Parliament stated that the use of manure will not be able to completely replace traditional nitrogen fertilizers.

Finance Minister Anton Siluanov said on May 13 that the situation in the Strait of Hormuz had triggered a global energy crisis, followed by rising prices for fertilizers and food, as well as the threat of a recession in the global economy. He noted that energy importing countries in Asia and Europe will suffer the most.