MOSCOW, November 13. /TASS/. Fertilizer prices in Russia, which have been fixed since the fall of 2022 in Russia, will remain capped until May 2025, though producers have asked the Industry and Trade Ministry to consider the possibility of adjusting them by 15% starting in January, a source in the sector told TASS.

"In 2021, we voluntarily fixed prices, and there have been no adjustments for over two years. We have requested to update the max price in our commercial policy seeing as how the price of gas has been adjusted three times since then, add to that the introduction of an excise tax on gas, transportation tariffs are on the rise, wages have been adjusted and so on. So we believe a 15% adjustment starting next year would be justified," he said.

Companies have submitted a respective request to the Industry and Trade Ministry, the source said.

In July 2021, producers of mineral fertilizers froze prices for their products for Russian farmers until the end of the year. Later it was decided to fix prices until the end of May 2022. In June and September, 2022, they were adjusted by 5% and by 5-10%, respectively. Later the adjustment was extended again.

In October, the Russian government extended and revised quotas on the export of mineral fertilizers from the country. The new quotas will run from December 1, 2024 to May 31, 2025. The overall volume of the export quota will total around 19.2 mln tons, including around 11.2 mln tons for nitrogen fertilizers and almost 8 mln tons for compound fertilizers.