SIRIUS, May 21. /TASS/. Russia is protected from fertilizer price fluctuations amid the conflict in the Middle East, Alexander Malov, Director of the Department for Regulation of Agricultural Markets at the Russian Agriculture Ministry, stated at the All-Russian Grain Forum.

"Our domestic market prices are fixed, and our agricultural producers are protected from fluctuations. Meanwhile, our competitors in the global market, who are not protected from this and whose fertilizer share of input costs is much higher than ours, will definitely show lower yields and a more expensive harvest next season," Malov said.

Since 2021, Russia has maintained a quota mechanism in the mineral fertilizer market, with maximum domestic fertilizer prices currently frozen at the September 2022 level. Last year, fertilizer producers requested to index domestic prices upward by at least 10%.

In April, Maxim Shaskolsky, head of the Federal Antimonopoly Service, told reporters that the agency considers it necessary to maintain the mechanism for fixing domestic fertilizer prices. He stated that the extension of this measure would be discussed jointly with relevant government agencies.