Fertilizer exports from Russia to India increased more than 3 times
Denis Manturov, Russia’s Deputy Prime Minister and Minister of Industry and Commerce, addressed reporters in New Delhi, India.
Manturov said his country’s fertilizer exports to India increased 3.4 times in 2022 compared to the previous year.
Explaining that Russia carries out intensive fertilizer exports to India, Manturov said, “We produce 2.5 times more fertilizer than Russia’s domestic consumption, so we have the ability to increase our export volumes.”
‘6.4 TIMES INCREASE IN FINANCIAL VALUE’
Noting that they registered a significant increase in fertilizer exports to India last year, Manturov said: “Our fertilizer exports to India increased 3.4 times in 2022 compared to the previous year, in physical volume. In terms of financial value, our fertilizer exports increased 6.4 times. We hope this positive process will continue in our fertilizer shipments to India.”
Due to the sanctions, Russia wants to increase its exports to alternative “friendly countries” to Western countries in the agricultural and energy sector.
The main customers for Russian fertilizers include India, as well as China and Latin American countries. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
