Russia introduces export duty on mineral fertilizers starting from January 1, 2023. The rate of 23.5% will be charged on the price over $450 per ton of fertilizers that are exported outside the customs territory of the Eurasian Economic Union (EAEU).
This is stated in a government decree, which was published on Saturday on the official Internet portal of legal information of the Russian Federation.
According to the document, the duty will not apply if the price of fertilizers is less than $450 per ton.
Export duties on fertilizers will be valid until December 31, 2023. They apply to all types of fertilizers: nitrogen, phosphate and potash.
Russia is a major producer of potash, phosphate and nitrogen fertilizers, with output of more than 50 million tons a year, equating to 13% of global production.