Putin Asks Fertilizer Makers to Keep Prices Down

Prime Minister Vladimir Putin asked fertilizer makers to keep prices for domestic farmers at the lowest possible level because of the drought in Central Russia, during a meeting Tuesday night with Acron chairman Vyacheslav Kantor.

Kantor agreed on behalf of the Russian Fertilizer Producers Association not to raise prices, according to a transcript of the meeting posted on the government web site.

Joint ventures should be created for raw materials, such as potash and phosphate, that are now controlled by a small number of suppliers to allow complex fertilizer producers to keep prices low, Kantor told Putin.

Acron has $4 billion of investment projects, Kantor said, according to the web site.

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