Russia Suspends Fertilizer Exports Due to Supply Crisis

Russia, a top fertilizer exporter, has suspended ammonium nitrate exports for a month until April 21. This decision comes amid a global shortage caused by the closure of the Strait of Hormuz, through which a significant portion of global ammonia trade passes.

Russia, one of the world's largest fertilizer exporters, lacks the capacity to increase production this year amid a global supply crisis caused by the closure of the Strait of Hormuz. Through it passes 24% of global ammonia trade, a key component of ammonium nitrate. On Tuesday, Russia, which controls up to 40% of global ammonium nitrate trade, announced it will suspend exports of this type of fertilizer for a month until April 21 to ensure sufficient supplies for the domestic market during the spring agricultural season. The Ministry of Agriculture said it has suspended all licenses for exporting ammonium nitrate and will not issue new permits, except those related to government contracts. Russia produces...

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