MOSCOW, May 22. /TASS/. The increase of duties on Russian fertilizers by the European Union will hit Europe itself and lead to spike in global fertilizer prices, the Russian Association of Fertilizer Producers (RAFP) told TASS.

"This decision of the European Commission will discriminate in the first instance not the Russian exporters but farmers and consumers of agricultural products in the European Union - they will exactly shoulder to the full extent the burden of financial costs related to non-market competition restriction mechanisms. Contrary to assertions of the European Commission, the blocking barriers against Russian mineral fertilizers and agricultural products will give a strong impetus for ratcheting up global food inflation and will result in a spike of international food and mineral fertilizer prices, with the poorest developing economies to suffer from that above all," the association stressed.

Russian producers will continue developing cooperation with partners in other regions of the globe, the association noted. As of the end of 2024, friendly countries accounted for 76% of total Russian exports of mineral fertilizers, compared to 69% in 2019.