Russia's major mineral fertilizer producers are extending the price containment regime for their products until December 31, 2021, the Association of Fertilizer Producers (RAPU) said.
Many agrarians have already started to prepare for the spring and to buy nitrogen fertilizers ahead of time. The decision to extend the price suppression period should improve the level and quality of farmers' preparation for the spring field work in conditions of abrupt changes in prices on the world markets, the RAPU explained.
"In some regions, the demand for ammonium nitrate - the main fertilizer for spring sowing - has increased or will soon increase sharply. The largest fertilizer producers welcome the agro-industrial complex's turn to early purchases and, for their part, are extending the regime of price restraint on mineral fertilizers until the end of the year," reads the statement of the association.
The regime of containing prices among fertilizer producers was launched in summer this year. This is how the companies try to support farmers against the backdrop of the changing macroeconomic situation caused by the consequences of the pandemic and natural disasters in a number of regions of the country.
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Author: Karina Kamalova